I would like some advise on a piece of land in Bulgaria that I bought with my expartner some years ago.
We paid about £4000 for the land. We called ourselves a holiday company hoping to use it for campers but we never used it at all or made any earnings at all. We have nothing done on the land eg no waste disposal. There is an uninhabital shed on there. Water is supposed to be connected but none has ever been used. I cannot understand why we pay £400 when we were told the tax would be about £12 per year. Is there a way that we can desolve the "business" and neither of us has use for it now, or can afford to keep paying. What would happen if we just stop paying the yearly fee and say they can keep the land.
Don,t want to shoot the messenger. Just trying to understand it all....So even though it a piece of land that generates no income what so ever, it is still classed as property? Land is not selling in Bulgaria or so we are being told, and I guess we would be selling at a loss, which we are prepared to do. But there just aren,t any buyers.
I still do not see why we are paying £400 for land worth only £4000, you said yourself that it would seem to be worth £19,000 for that kind of yearly figure.
So if there valuation was not correct....wouldn,t that be classed as being fishy? I feel we were duped as we only expected to pay the £12 as first told in the beginning when we bought it. How do we know if they have the correct value of our land or not? Sorry but if I ask the company these questions they never answer me.
No perhaps it does not seem a lot for management...but to me they don,t do anything for it ...That is my point. It seems as if I have to just lump it then. Nothing more I can do or nowhere else to go with it.
Thankyou for the advice. Regards Jean.