Developers of unsold apartments in buildings under construction will be subject to a 1% tax, while in completed commercial-residential complexes the rate will be 0.5%. Owners of temporary structures will pay a tax of 0.4% of their value. In addition, enclosed terraces in apartments will also be subject to taxation.
Property tax is one of the main sources of revenue for the Budva budget. Its revenue side this year will amount to 37.8 million euros. Tax collection revenues are expected to reach 12.5 million euros.