Budapest municipality clears property tax for buildings on Margaret Island
The municipal council of Budapest voted to introduce a property tax on buildings on Margaret Island.
The proposal was tabled by Mayor Gergely Karacsony and approved with 18 votes in favour, 12 against and 2 abstentions.
From January 1, owners of real estate on the island worth more than 1 billion forints (EUR 2.4m) will pay a 1 percent tax on the value of their property.
