Slovak Cities to Receive More Revenue from Office Tower Tax as Floor Tax Increases

Slovak municipalities will collect higher revenues from office towers and high-rise buildings after the government increased the floor tax rate, which had remained unchanged since the beginning of the millennium. The tax adjustment affects multi-story commercial and residential developments, providing cities with additional income from real estate in their territories. However, property developers have warned that the increased tax burden will likely be passed on to tenants and buyers, potentially raising costs for office space and residential units. The floor tax is levied on buildings based on their number of stories, with taller structures paying proportionally higher rates to local governments.