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Big Companies Are Fleeing the City because of Taxes.
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Reykjavík's independents will propose that the city council agree to reduce the property tax rate on commercial and residential properties when preparing the budget for 2026, so that the city's revenue from property taxes does not increase between 2025 and 2026. Their leader says that many of the country's largest companies have fled the city in recent years due to the highest property taxes in the capital area.
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