The Municipality of Bar has informed property owners in the territory of that municipality that the calculation of real estate tax and tourist tax for 2025 has been made and that a decision has been made to reduce the tax base to the amount of 1.693,75 euros compared to the initially determined amount of 2.305 euros.
"The amount determined in this way is 11,5% lower than the base in 2024, and as much as 26,5% lower than the originally obtained base for 2025, which was defined by applying the current legal regulations to the amount of the average market value determined by Monstat," the statement reads.
The Municipality of Bar, as they said, in order to reduce the financial burden on taxpayers and tax payers that would be caused by the application of the original base, decided to use the legal possibility that allows for determining the tax base according to a different principle and thus "provided more favorable conditions for citizens in a time of general price increases."
A total of 52.095 real estate tax decisions were issued for individuals and 18.121 decisions for tourist tax, while decisions for legal entities are issued in special procedures.
"In addition, appreciating the importance of the Port of Bar as a generator of development for our city, the Municipal Assembly adopted a Conclusion exempting AD 'Luka Bar' from the obligation to pay real estate tax for 2025, due to the occurrence of major material damage caused by the weather disaster in July 2024," the statement reads.
Bonus video:
