Tax issues and property prices at stake as Voluntari becomes part of Bucharest

Newsroom 07/12/2009 | 15:31

Voluntari, which hosts the Iancu Nicolae neighborhood and the new office development Pipera area, has different taxation levels than the capital. For example, in Bucharest, the tax on concrete buildings with utilities is 0.1 percent of a building’s value established at RON 702 per sqm for this year. In Voluntari, the same type of buildings are taxed at a value of RON 1.539 per sqm, while the taxation coefficient is 0.12 percent. However, the taxed value of a building is adjusted based on the rank of the locality and the area where the building is located.

Land taxes also differ. The taxes on land for the two areas of Voluntari are 0.56 RON per sqm and 0.18 RON per sqm, according to data from the Voluntari city hall. The tax on land in built-up areas in Bucharest varies based on the area of the city between 0.33 RON and 0.77 RON per sqm.

Although the referendum on whether to make Pipera into another sector of the capital city has taken place, Bucharest inhabitants still have to decide whether they agree with the change. Meanwhile, several groups of residents from the Pipera area have suggested that it become part of Sectors 1 or 2 of Bucharest, rather than the seventh sector. They would also like their own administration and mayor. Meanwhile, the Voluntari mayor, Florentin Pandele, says the value of properties there would increase, among other effects. “Out of the city’s revenues, EUR 9 million goes every year towards balancing the budget of Ilfov county. With this referendum we have made the first step towards creating a Bucharest metropolitan area. In time, Ilfov county will disappear. Also, the value of properties in Voluntari will increase,” he predicted. Voluntari is part of Ilfov county, adjacent to Bucharest, and includes all the neighborhoods close to the capital.

BR Magazine | Latest Issue

Download PDF or read online: July 2023 Issue | Business Review Magazine

The July 2023 issue of Business Review Magazine is now available in digital format, featuring the main cover story titled “At a Crossroads: Budget Deficit Endangering Romania’s Economic
Newsroom | 31/07/2023 | 14:14

    You will receive a download link for the latest issue of Business Review Magazine in PDF format, based on the completion of the form below.

    I agree with the Privacy policy of

    I agree with the storage and handling of my data by

    Advertisement Advertisement
    Close ×

    We use cookies for keeping our website reliable and secure, personalising content and ads, providing social media features and to analyse how our website is used.

    Accept & continue