Cyprus:
Cyprus Tax Facts 2021 - Immovable Property Tax
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Immovable property tax paid annually to the Tax Office is
abolished as from 1/1/2017.
The rates which applied up to 31 December 2016 on the market
value of the property as at 1/1/1980 were the following:
VALUE OF PROPERTY
€ |
RATE
0 |
TAX
€ |
ACCUMULATED TAX
€ |
Up to 40.000* |
6 |
240 |
240 |
40.001 – 120.000 |
8 |
640 |
880 |
120.001 – 170.000 |
9 |
450 |
1.330 |
170.001 – 300.000 |
11 |
1.430 |
2.760 |
300.001 – 500.000 |
13 |
2.600 |
5.360 |
500.001 – 800.000 |
15 |
4.500 |
9.860 |
800.000 – 3.000.000 |
17 |
37.400 |
47.260 |
Over 3.000.000 |
19 |
|
|
* Properties with value up to €12.500 are exempt from
immovable property tax but if the value of the property exceeds
€12.500 then no exemption applies.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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