Property Tax in Montenegro
The annual property tax in Montenegro, which is mandatory for all homeowners, is quite low. It amounts to 0.08–1.0% of the assessed cadastral value.
Local self-government authorities (municipalities) determine the tax rate independently, depending on such factors as:
- the location of the house;
- the area of the building (apartment);
- the presence of additional extensions.
For foreign citizens living in tourist areas, the Montenegrin authorities have also introduced an additional tourist tax (fee). Its amount is 10–15% of the annual property tax.
Utility Bills
Utility bills for property owners in Montenegro are paid based on meter readings. All bills are delivered by mail. There is also the option of advance payment. Utility bills include charges for:
- electricity;
- water;
- garbage collection.
The cost of one kilowatt of electricity in Montenegro is calculated using a two-rate system:- at night — €3 per 100 kW;
- during the day — €6 per 100 kW;
- network usage subscription fee — €3 per calendar month.
If bills are overdue by more than €200, electricity may be disconnected.
The cost of water in Montenegro depends on the region of residence.In the country’s tourist capital — the Budva Riviera — it is:
- €2.70 per cubic meter;
- €8 — monthly subscription fee.
There is no centralized heating or gas supply in the cities.Additional expenses —
household waste collection. On average, an apartment owner pays €5 per month for this service, while a private house owner pays €10–12.
Other property expenses in Montenegro
Consist of paying bills for:
- cable TV and Internet;
- property management company services;
- septic tank cleaning and cesspool services.
The cost of connected Internetdepends on the selected tariff. On average, the pleasure of surfing the web costs €15–20 per month. Some mobile operators provide 3G–4G Internet for €16 per month. The service package includes 10 GB of traffic. A one-time purchase of a modem costs the buyer €20.
Cable TV feesaverage €10–15 per month. The amount on the bill may vary slightly depending on the operator’s package and the number of channels broadcast. Russian channels can also be watched for a fairly moderate fee — €11–29 per package.
Property maintenance costsin Montenegro by a specialized management company are quite low. The price range for such services is €0.5–2.5 per m² of living space per month.
Cesspool services for cleaning the septic tank in a private houseare estimated at €200. They are usually ordered twice a year.
Conclusions
Owning property in Montenegro is affordable and convenient. The main expenses for owners are:
- an annual tax of up to 1% of the assessed value of the property;
- tourist tax;
- utility services (electricity and water);
- payment for the services of a specialized management company.
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