Gaps of as much of 30% or more have emerged between currenttrading values and minimum prices depending on which taxes andnotary fees are paid. The minimum value of the real estate deal taxand of notary fees is set depending on prices included in the"Handbook on real estate properties' guide values", known as "Thechart or notaries public", drawn up by appraisal firms at thebeginning of each year for the Chamber of Notaries Public. In thecontext where the prices of apartments in certain areas ofBucharest have further dropped during this year by more thanappraisers had estimated, chart values in some cases are even 30%bigger, a percentage that is reflected in paid taxes. There may bedifferences in the reverse sense, with basic values set in thechart being even 30% smaller than trading ones. "Chartmodifications may be requested during a year if large differencesbetween chart values and trading values are noticed. The FinanceMinistry has to approve changes," says Alin Briceag, a spokespersonfor the National Union of Notaries Public in Romania.
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