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Property tax requires more preparation, says opposition

A tax on residential properties could be introduced but not in the short term and only after "due preparations" and wide-scale public discussion, László Mádi, an expert of the main opposition Fidesz party, told a conference of real estate brokers and appraisers in Budapest on Thursday.

Balázs Lenhardt of the radical nationalist Jobbik party said that the tax could be levied towards the end of the next government cycle on properties worth more than HUF 50 million.

On Tuesday, the Constitutional Court scrapped Hungary's new residential property tax, introduced on January 1, saying that it was unconstitutional. (MTI-ECONEWS)