Local taxes for 2019
The average 2019 local tax rate in Faroese municipalities is 20.18 percent, which is slightly lower than last year’s 20.24 percent.
These figures come from a new TAKS survey of local council taxation.
Fugloy and Skúvoy municipalities have the lowest tax rate, at 16 percent, followed by Fámjin’s 17 percent rate.
At 22 percent, Runavík and Vágar municipalities have the highest local tax rate.
Fugloy municipality also has the highest child benefits payout (DKK 10,000), while Vágur municipality has the lowest, at DKK 4,500.
Most local councils have left their local tax rate unchanged for 2019. The four that have made changes have all lowered the rate.
These four are Skopun, Tvøroyri, Hvalba and Fámjin. Fámjin had the biggest cut to the local tax rate, going from 19 percent last year to 17 percent this year.
Child benefits also remain unchanged in most places. No municipality has lowered the benefits, while Húsavík, Runavík and Skálavík have increased their rates. The biggest increase was in Runavík municipality, where child benefits increased by DKK 1,500 from DKK 6,500 to DKK 8,000.
Translated by prosa.fo