Although there are no details in the fiscal package regarding the initiative, it is foreseen that the effects of the revaluation will cost around 4 billion lekë.
The Assembly is expected to present this process in more detail soon. Under this scheme, property owners will pay 2 percent of the difference arising from the price in the first contract, with the value arising from revaluation.
Currently, if a property is bought for 100 thousand euros and sold for 150 thousand euros, the purchaser will have to pay 15% of the difference.
In the meantime, if the revaluation scheme is approved, 2% of 50,000 euros, or 1000 euros, will be paid in advance for the same case.
Real estate agents consider the revaluation to be a very positive initiative. Engineer, Xheni Jahja, suggests all citizens benefit by turning to a mortgage or a real estate appraiser.
Jahja says a 15% tax is often seen as an obstacle to the sale of properties and so many owners declare fictitious values.
Four reassessment schemes have been applied over the past 10 years. Initially, the tax was set at 1 percent and then increased to 2 percent. The intention remains to formalize this market but also to bring in more revenue to the budget.