Speyer threatens property tax shock: the rate rises to 595 percent!

Speyer threatens property tax shock: the rate rises to 595 percent!

Speyer, Deutschland - The property tax reform in Speyer causes excitement! The new federal model, which strives for a fair evaluation of land, has proven to be problematic. Instead of the hoped-for relief for residential property, it leads to a massive shift in stress that affects almost 40 percent of the municipalities in Rhineland-Palatinate. The city of Speyer in particular faces enormous challenges!

The calculations show that business properties lose value compared to residential plots. This means that the property tax must be compensated for by the residential plots, which the city of Speyer will present with great financial hurdles from 2025. Every year, the city has to generate at least 10 to 11 million euros in property tax revenue in order to perform the municipal tasks. But the new law could cost Speyer around 2.37 million euros!

urgent need for action!

In order to compensate for the financial losses, a drastic increase in property tax rate will be necessary. At the moment, this is 465 percent, but to ensure that the amount of the amount neutrality is guaranteed, he could increase to shocking 595 percent! The city administration is under pressure to present a balanced budget, which is hardly possible without this adaptation.

The Rhineland-Palatinate Cities Day has the task of negotiating local authority in order to minimize the necessary increases in property tax rates. The situation is tense and the Speyer citizens have to adapt to possible financial burdens. Further information on property tax reform is available on the official website of the city of Speyer.