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InformationCyprusImmovable Property Tax
Immovable Property Tax
Immovable property tax is imposed on the market value of immovable property as at 1 January 1980 and is calculated on the immovable owned by the taxpayer on 1 January of each year.
Rates
Property Value € Rate % Tax € Cumulative Tax €
1-40,000 *0.60240240
40,001-120,0000.80640880
120,001-170,0000.904501,330
170,001-300,0001.101,4302,760
300,001-500,0001.302,6005,360
500,001-800,0001.504,5009,860
800,001-3,000,0001.7037,90047,260
3,000,001+1.90
* Property owners with total property value not exceeding €12,500 (using values of 1 January 1980) are exempt from immovable property tax.
Exemptions
The following properties are exempt from immovable property tax:
  1. Public cemeteries
  2. Churches and other religious buildings
  3. Public hospitals
  4. Schools
  5. Immovable property owned by the republic, foreign embassies and consulates
  6. Buildings under a preservations order subject to conditions
  7. Buildings of charitable organizations
  8. Agricultural land used for agriculture or animal husbandry by a farmer
  9. Immovable property situated in inaccessible or depressed areas
  10. Property of missing person under administration
The information contained in this Site has been written in general terms and therefore cannot be relied on to cover specific situations; application of the principles set out will depend upon the particular circumstances involved and we recommend that you obtain professional advice before acting or refraining from acting on any of the contents of this newsletter. AlfaZeda Associates Limited would be pleased to advise readers on how to apply the principles set out in this newsletter to their specific circumstances. AlfaZeda Associates Limited accepts no duty of care or liability for any loss occasioned to any person acting or refraining from action as a result of any material in this newsletter.
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The information contained in this Site has been written in general terms and therefore cannot be relied on to cover specific situations; application of the principles set out will depend upon the particular circumstances involved and we recommend that you obtain professional advice before acting or refraining from acting on any of the contents of this newsletter. AlfaZeda Associates Limited would be pleased to advise readers on how to apply the principles set out in this newsletter to their specific circumstances. AlfaZeda Associates Limited accepts no duty of care or liability for any loss occasioned to any person acting or refraining from action as a result of any material in this newsletter.