Germany Sees Record Spike in Property Tax Rates as Municipalities Struggle Financially
Property owners in Germany are facing significant increases in local property tax rates, with average rates jumping to their highest in decades. A recent analysis reveals that over 2,600 municipalities raised their tax rates in 2023, driven largely by financial pressures and recent reforms. The changes, which will require new calculations for millions of properties, could lead to further tax hikes as local governments seek to stabilize their budgets amid rising costs and economic challenges.