Greece: In December 2013, the Greek Parliament passed a policy to reduce the property transfer tax from 11% to 3% to attract property-buying immigrants. This policy was implemented on January 1, 2014. It is understood that since Greece launched its property-based immigration program in May 2013, foreigners can obtain a Greek residence permit by purchasing property worth 250,000 euros in Greece.
Portugal: Property owners are required to pay property tax annually, which falls under the category of local taxes. The tax rate for rural properties is 0.8%, while the tax rate for urban properties ranges between 0.4% and 0.7%. Regarding transaction taxes, the rate for rural properties is 5% of the transaction price; for urban properties, the transaction tax rate varies based on the transaction price, with a fixed rate of 6% for properties exceeding 574,323 euros, payable by the buyer.
United States: The principle of property tax in the United States is that regardless of the size of the property, the number of occupants, or the number of properties owned, as long as one owns real estate, one must pay taxes according to the prescribed rates. Tax rates are determined by individual state governments, generally ranging from 1.5% to 3% of the property value annually.
Singapore: Property tax is levied annually, and the amount is determined based on the market rental value of the property. For example, if you own a two-bedroom apartment of less than 70 square meters (usable area) and the owner does not live there but lends or rents it to others, the property tax is 10% of the annual value of the property. The annual value is determined by the government and is typically the annual rent of one room (note: not the entire unit). If the owner resides there, the property tax is 4% of the annual value. Since 2011, Singapore has reformed its property tax system to be more favorable to vulnerable groups, exempting properties with an annual value (AV) of less than 6,000 Singapore dollars from property tax.
Canada: Real estate tax is one of the oldest forms of taxation, with a history spanning over 130 years. Canada does not have a unified real estate tax rate; rates are determined by provincial or local governments based on regional fiscal needs.
Australia: Real estate (land and buildings thereon) is freehold (except in the Canberra region, which is a 99-year leasehold). There is no property tax levied on the real estate itself; instead, land tax is levied only on the land.