Albanians save €84m through property tax break

Albanian property owners have saved an estimated €84m through a tax break that allows homes, land and commercial property to be revalued at a lower rate.

Tax authorities say the scheme has also generated about €40m in revenue in its first two months, as owners move to update property values to reflect current market prices.

The government expects the programme to raise more money than the previous revaluation scheme in 2022.

The measure runs until the end of 2026 and is open to both individuals and businesses.