The property taxation reform is officially postponed for year 2026

On October 24, 2024, the Emergency Ordinance
no. 124/2024 on the extension of certain deadlines and the strengthening of administrative capacity in the field of property taxation was published in the Official Gazette.

Broadly, the Ordinance provides that the taxation at market values of the real estate properties will be postponed for year 2026. Thus, until the end of 2025, the current computation system of local taxes will continue to apply.

Also, in order to fulfill the commitment undertaken in the RRNP, the Ordinance approves the establishment of a specialized structure within the Ministry of Finance, being responsible for the implementation of the property taxation reform.

Inter alia, this specialized structure will be in charge of managing tax-relevant data and information on real estate properties in Romania, will collaborate with administrative-territorial units and other entities holding such data and information in order to carry out the tax assessment of the real estate properties, will design and implement specific models for real estate property taxation and will develop the forms related to the activity of tax claims administration.

For more details, please consult the Official Gazette no. 1069 published on 24th October 2024.

Furthermore, the EY team is available for further details regarding the changes mentioned above.