Germany’s parliament approved a major overhaul of property tax rules that will require revaluation of all 36 million properties in the country.
Government officials forecast that the new rules, passed Oct. 17, will be revenue neutral. But the change could mean some taxpayers, including businesses, will pay significantly more in property tax.
- The value of a building is used in the calculation of property taxes.
- A German constitutional court in April ruled that the way valuations were being conducted in different regions was unconstitutional, leading the government to overhaul the way it is done nationwide.
- West German state values...