TIRANA, June 26 – The Ministry of Finance has opened a draft law on immovable property tax for public consultation. Finance Minister Petrit Malaj said the reform protects Albanian families and preserves one of the region’s lowest property tax rates.
Meanwhile, Malaj said the proposal would not increase the tax burden for the vast majority of citizens. He added that the reform would support community development, encourage investment and create a fairer taxation system.
In addition, Malaj said the reform strengthens the principle of fiscal fairness. He explained that owners of multiple properties would contribute more, while the first home and vulnerable groups would continue to receive protection. He also said municipalities would gain additional revenue for roads, schools, public spaces and local services.
As a result, the draft law grants a 50% tax reduction for a primary residence. Owners of two or more homes would receive the reduction for only one property.
The proposal sets tax rates of 0.1%-0.2% for residential buildings and 0.15%-0.25% for commercial buildings. It also sets rates of 0.05%-0.15% for agricultural and forest land. Building land and other land categories would face rates of 0.075%-0.175%.
The draft law would tax unfinished buildings at 30% of the applicable category rate. Malaj also said property tax on homes valued at up to 16.8 million ALL would remain unchanged under the proposal.
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