Developers of unsold apartments in buildings under construction will be subject to a 1% tax, while those in completed commercial-residential complexes will pay 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 Budva’s budget. This year, its revenue side will amount to 37.8 million euros. Tax collection revenues are expected to reach 12.5 million euros.