70 million euros from property tax - Revenues for municipalities increase, doubling compared to 2015
The property tax is among the main suppliers of the municipal budget in Albania, despite the fact that the full implementation of its collection based on the value of the property has not yet begun.
Official data from the Ministry of Finance show that in the first 10 months of this year, the 61 municipalities in the country have collected nearly 7 billion lek or 70 million euros, with a progressive increase from year to year, reaching the highest figure of the last decade for this period. Compared to 2015, revenues from this tax have doubled.
Compared to the period January-October 2024, the tax on buildings supplied by local self-government units has increased by about 383 million lek or approximately 3.4 million euros. In percentage terms, revenues compared to the previous year are 5.5 percent higher, but compared to the plan for the period they are 3% lower or 2.1 million euros less.
The need for more revenue and the necessity to pay off the stock of arrears has led municipalities to pay more attention to the collection of the tax on buildings, although its application according to market value has not yet begun.
This performance was influenced by the increase in construction areas, the development that this sector has received mainly in coastal areas, as well as the increase in the number of transactions. The Municipality of Tirana has the largest share in the collection of this tax, followed by municipalities in coastal areas and other large units.
The government expects to collect additional revenue from property tax in 2026, which will be generated due to the operationalization of the fiscal cadastre, which will serve for more efficient collection of the building tax.
On the other hand, a draft law that defines the new methodology for taxing buildings has recently been submitted for consultation, which is expected to have an impact on this performance when it enters into force, and a new decision that determines the tax that will be applied is expected to be approved.
The number of taxable property units in Albania is 797 thousand, of which 412 thousand are complete with information.
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