– Municipalities received €70.9 million in funding from the state last year.
– The reform of Local Government will increase state funding to €92.9 million from July 1st.
– The number of municipalities will be reduced from 30 to 20 due to the reform.
– State funding is expected to increase to €117 million by 2025.
– In the first half of 2024, the 30 municipalities will receive €35.4 million in state funding.
– €8.7 million of the funding is in exchange for the abolition of the professional tax.
– €1.09 million of the funding is in exchange for the Diapylia, which have been abolished for decades.
– From July to December, the 20 reformed municipalities will receive a total of €58.8 million.
– The funding distribution criteria include population, population density, area, and per capita income of the municipality from its residents.
– The Ministry of Interior aims for fiscal balance in the new distribution of state funding based on the needs of each local authority.
– Specific funding allocations include: Nicosia Municipality €9 million, Limassol €8.1 million, Strovolos €4.9 million, Larnaca €4.8 million, Lakatamia €3.1 million, Paphos €2.8 million, Paralimni-Deryneia €2.58 million, Eastern Limassol €2.54 million, Latsia-Yeri €2.26 million, Western Limassol €2.24 million, Ayia Napa €2.1 million, Aradippou Municipality €1.8 million, Southern Nicosia-Idalion €1.8 million, Dromolaxia-Menou €1.6 million, Eastern Paphos €1.4 million, Chrysochous Town €1.24 million, Athienou €1.13 million, Akamas €1.15 million, and Lefkara €1 million.