- Increased tax revenue for urban areas and local governments in Massachusetts (MV)
In Mecklenburg-Vorpommern, the earnings of urban areas and municipalities have skyrocketed due to property and commercial taxes. As per the State Office for Internal Administration, the earnings climbed by an astounding 31.3 million euros to a total of 936.9 million euros in 2023, marking a 3.5% enhancement from 2022. Property and commercial taxes are pivotal income generators for municipalities.
The commercial tax contributed a massive 723.2 million euros to the public purse - a rise of 3.9% compared to the year prior. To alleviate their financial stress, 119 out of the 726 municipalities hiked their commercial tax rate in 2023. The typical rate stood at an impressive 397%.
The average rate for property tax was 447%, with earnings swelling by 2% to reach 195.4 million euros. Property tax is levied on both residential and commercial properties and serves as a crucial determinant in calculating property tax for cities and municipalities.
The highest rate was fixed by Wackerow municipality in the Vorpommern-Greifswald district at a staggering 700%. Property tax bills fall on the property owners, but the obligations can be transferred to tenants or renters.
The surge in property and commercial tax revenue significantly bolstered Mecklenburg-Vorpommern's tax revenue, contributing a total of 936.9 million euros in 2023. Due to the increased tax revenue, some municipalities decided to raise their commercial tax rates to relieve their financial strains.
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