Navigating the New Property Tax Landscape

Cologne's Property Tax Reform Sparks Mass Objections

The recent property tax reform in Cologne has led to a significant wave of discontent, with nearly 69,000 residents filing objections against the new property tax value notices. This surge in objections reflects widespread concern over the accuracy and fairness of the assessments. The Regional Finance Office is currently handling these grievances, underscoring the contentious nature of the reform. The city's administrative courts have yet to acknowledge the potentially stifling impact of high multipliers on property owners. Meanwhile, the Taxpayers' Association advises property owners to contest incorrect valuations. The reform aims to recalibrate property tax calculations starting January 1, 2025, to address inequalities and account for the increase in property values. In response to the reform, the city has established a hotline to assist residents with inquiries. Property owners are encouraged to carefully review their notices, focusing on the assessment amounts, multipliers, and calculations. While tenants have little recourse against the rise in property taxes, landlords can pass these costs onto them. The reform's discrepancies have prompted further discussions on the need for equitable tax regulations.