An incentive for an increasing number of property owners is the discount of up to 20% on their property tax bill, with the deadline for those wanting to “lock in” the related reduction expiring on February 16th. The tax relief has triggered intense activity in the home insurance market, directing more households toward contracts that cover natural disasters such as floods, fires, and earthquakes.
The trend is evident from two-year data, as from September 2023 when the measure began implementation until September 2025, the number of insured homes increased by 54.5%. From 508,908 they reached 786,206, meaning 277,298 additional properties acquired insurance protection.
The number of home insurance contracts now stands at 1,304,067, resulting in the insurance coverage rate increasing significantly from 14.7% in 2023 to 19.8% in September 2025. In other words, approximately two out of ten homes in Greece today have insurance protection against extreme weather events and earthquakes.
However, to secure a discount of up to 20%, property owners must meet specific requirements. The home must be insured for earthquakes, fires, and floods for at least three months during the year. The maximum tax reduction of up to 20% applies to properties with a taxable value up to €500,000, provided the insurance covers the entire year. For homes of greater value, the discount is limited to 10%.
In cases where insurance covers a shorter period within the year, the property tax discount is not lost but is calculated proportionally based on the contract duration. However, a basic requirement for inclusion in the measure is that the insurance policy must provide minimum coverage capital of €900 per square meter to ensure adequate compensation in case of damage.
Application for property tax discount
Taxpayers with insured homes have until February 16, 2026, to secure a discount of up to 20% on this year’s property tax. The process is done electronically through the tax authority’s myProperty platform, where the relevant application is submitted for each insured property.
For those who submitted an application last year, the form appears pre-filled, with the ability to review and modify before final submission. If the insured home does not appear on the platform, the taxpayer must confirm it has been previously declared in the E9 form, as this is a basic requirement for granting the discount.
Those with homes insured against natural disasters, through the “Create new application” tab, proceed with the following actions:
- Associate the insurance contracts that appear with the rights they hold over the insured homes (own insurance).
- Declare the tax identification number(s) of co-owner(s) when there are multiple owners of the insured home (own insurance and on behalf of third parties).
- Declare the tax identification number(s) of third party(ies) who have rights over the insured home when they themselves do not hold rights over the property (insurance on behalf of third parties).
Co-owners
Taxpayers who will be included in the application as co-owners or third parties will be notified via electronic message to submit an application and associate the insurance contract with their insured home.
After being notified via electronic message that they have been included in the insurance holder’s declaration as co-owners or third parties, they can locate the insurance contracts declared under their tax number and associate them with their rights over the insured homes.
Property tax bills for 2026 are expected to be issued in early March. The tax can be paid in 12 monthly installments, with the first due by the end of March 2026.
