In Cyprus, Immovable Property Tax is payable on 30 September each year
It is imposed on the market value of the property as of 1 January 1980 and is calculated on the immovable property owned by the taxpayer on 1 January of each year. Both physical and legal persons are liable for this tax.
Applicable Rates up to 31/12/2011
Value of property € | Rate % |
0 – 170,860 | 0 |
170,861 – 427,150 | 0,25 |
427,151 – 854,300 | 0,35 |
854,301 and over | 0,40 |
Applicable Rates from 1/1/2012
Value of property € | Rate % |
0 – 120,000 | 0 |
120,001 – 170,000 | 0,25 |
170,001 – 300,000 | 0,50 |
300,001 – 500,000 | 0,60 |
500,001 – 800,000 | 0,70 |
800,00 and over | 0,80 |