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Tax increase in 2023: Impact on property and apartment owners
In the spring of 2023, the city turned the tax screw significantly and increased the assessment rates for trade tax and especially for property tax B, the latter in particular being important for all property and apartment owners. Because: This tax, which is levied on developed and undeveloped properties, must be paid by all owners directly and by tenants through additional costs. Many people were unaware of the result. It wasn't until October last year when the new notifications landed in the mailboxes that they saw the dimensions in black and white. According to a report from rp-online.de, As a financial expert, I analyze...
Tax increase in 2023: Impact on property and apartment owners
In the spring of 2023, the city turned the tax screw significantly and increased the assessment rates for trade tax and especially for property tax B, the latter in particular being important for all property and apartment owners. Because: This tax, which is levied on developed and undeveloped properties, must be paid by all owners directly and by tenants through additional costs. Many people were unaware of the result. It wasn't until October last year when the new notifications landed in the mailboxes that they saw the dimensions in black and white.
According to a report by rp-online.de,
As a financial expert, I analyze the situation in Dormagen and the effects of the significant increase in property tax B. The increase in property tax B has a direct impact on property and apartment owners as well as tenants, as they have to pay the tax via additional costs. The increase in this tax means that the financial burden on owners and tenants will increase significantly.
As a result of this tax increase, the attractiveness of real estate in Dormagen could become less as the additional costs could deter potential investors or tenants. This development could lead to a decline in the real estate market in Dormagen as the demand for land and apartments could decrease.
Furthermore, the property tax B increase could put a strain on the financial situation of many households, particularly low-income families and retirees who are already struggling with financial challenges. This tax increase could lead to an increase in housing costs and affect the quality of life of many people in Dormagen.
It is important that all stakeholders, including the city government and local stakeholders, carefully evaluate the long-term impact of this tax increase and, if necessary, take action to alleviate the financial burden on citizens.
Read the source article at rp-online.de