Montenegro will introduce a tax on illegal real estate

Montenegro will introduce a tax on illegal real estate

The law will include objects whose owners do not have title documents and have not submitted an application for legalization of real estate.

The tax in the first year is proposed to be approved in the amount of 1,5% of the cost of housing, it will be determined on the basis of Monstat data.

According to the results of last year, the average price of a new apartment per square meter on the coast is 945 euros, in Podgorica - 620 euros, and in the north of the country - 527 euros.

The tax payment will be split into two parts: the first will need to be paid by June 30, the second - by October 31. In conclusion, the tax rate can vary from 0,5% to 2%. It will be approved annually by local authorities.

Source.

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