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IMF says property taxes much too low

Mar 10, 2010
From wire reports

PAY FOR SERVICES: The landed class has gotten away too easily with unrealistically low property tax rates.
RIGA - The International Monetary Fund is advising Latvia to increase its assessed property valuations, after the group’s technical mission determined that the assessed property values in major cities are lower than their market values, reports business daily Biznes&Baltija. The international lender is in addition pushing for an adjustment of assessed valuations for real estate, to correct for discrepancies and corresponding loss of tax revenue. The IMF mission was in Latvia fr ...

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