Immovable Property Tax
Immovable Property Tax is imposed on the market value as at 1 January 1980 and applies to immovable property located in Cyprus owned by the taxpayer on 1 January of each year. This tax is payable on 30 September each year. Physical and legal persons are both liable to Immovable Property Tax.
As from 1 January 2013, the bands and rates for Immovable Property Tax for properties situated in Cyprus have been revised as per the table below which apply per owner, not per property. Property owners whose property has a total value of €12.500 or less (using values of 1.1.1980) are exempt from Immovable Property Tax.