Owning property in Bulgaria is related with the following expenses regarding its acquisition and exploitation.

Besides the main expense, which is paying for the property, the owner has to pay 20% VAT based on the price and 1% of the property price for notary tax, payable on the day of ownership transfer.

Property tax is defined by the local municipality on whose land the purchased real estate is located, and is due in an annual payment.

What are the implications of Property tax?

- It is payable on real estate – buildings, yards, a building plot and its built-up agricultural and forest land

- The payer is the owner or the user with legitimate right of estate use

- The installment is annual and there is a choice whether it is paid at once with a discount or at four even installments.

- The receiver of the tax is the local municipality

- The amount of the tax is 1.5% of the tax evaluation of the real estate.

- Real estate, whose purpose is residential use, has a 50% discount on the Property tax.