The burden of property taxes has rapidly increased over the last two years, weighing heavily on property owners and in turn, renters. In this period, property taxes increased by 30%, RTL Info reports.
Typically, property taxes have increased by 1-2% each year but tax increases have exploded in recent years. This is especially true in Brussels, where the tax burden has increased significantly. While regional taxes remain stable, the true impact of local property taxes is boosted by municipal fees.
Brussels homeowners are set to face record-high property taxes as federally-mandated levies coupled with additional fees imposed by local authorities compound the financial challenges of residents in the capital.
High inflation means that the real burden of property tax in the capital will increase by 9.6% this year, compared to 2022. In some municipalities, the increase will be as high as 28%.
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“An increase in landlord taxes is never good news for tenants,” Olivier de Clippele, president of the national union of owners and co-owners told RTL Info. “Either because landlords will sell their property, which will lead to an increase in prices by a scarcity of supply. Or because the landlord will try to pass on the burden of these taxes to the tenant.”
The property expert describes the attempts by Brussels municipalities to drive up property taxes as “shameless”.
This increase in taxes coincides with growing financial instability and record-low property ownership rates. Those who do own property, especially in the capital, may see the value of their property deteriorate as house prices fail to keep up with inflation.
