REAL ESTATE TAX

For a property that is a primary residence, the tax is due with a 50 percent reduction.

For a property that is the main residence of a person with reduced working capacity of 50 to 100 percent, the tax is due with a 75 percent reduction.

In the event that more than one main residence is declared, the reliefs above do not apply and the tax determined by ordinance of the Municipal Council in the range of 0.1 to 4.5 per thousand on the tax assessment of the real estate is due in full for each of the dwellings and for the period in which they are simultaneously declared as main dwellings.

Individuals assert their right to exemption from tax or to benefit from tax relief through a tax declaration, which they submit within 2 months. /For newly constructed buildings and structures that are not subject to commissioning in accordance with the Territorial Planning Act, the owner shall notify the municipality of the property's location in writing within 2 months, submitting a tax return for annual real estate tax properties./

Real estate tax is paid in two equal installments in the following terms: by June 30 and by October 31 of the year for which it is due. Those who pre-paid by April 30 for the entire year will receive a 5 percent discount.

In case of transfer of immovable property or establishment of real property rights on immovable property, the tax due before the transfer/establishment, including for the month of the transfer/establishment, shall be paid by the transferor/founder before the transfer/establishment. For immovable properties acquired in the current year, the tax is paid within the terms indicated above, and in cases where the acquisition is after the expiry of the terms, the tax is paid within two months from the date of acquisition of the property.

The tax on real estate comes as revenue to the budget of the municipality on the territory of which the property is located. The tax payable by the concessionaire for property located on the territory of more than one municipality shall be included in the revenue of the municipality in whose territory the majority of the property is located.

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Attorney at law Iuila Danova

#3, Dobrotica Str., Varna, Bulgaria

Mob: +359 895 64 59 40

WWW: advokatvarna.com

Email: iulia.danova@abv.bg