Property tax
Property tax is payable by both private and legal persons who own any property on 1 January. In Cyprus the tax base is calculated by the market value of the property on 1 January 1980.
However, tax rates of Cyprian property tax changed on 1 January 2013 – tax is payable on the joint value of all real estates and not on each real estate.
The due date of paying the property tax is 30 September in the tax year.
Correspondingly, the following shall be considered:
|
Value of the real estate (1 January 1980 – EUR) |
Tax rate (%) |
|
- 40 000 |
6 |
|
40 001 – 120 000 |
8 |
|
120 001 – 170 000 |
9 |
|
170 001 – 300 000 |
11 |
|
300 001 – 500 000 |
13 |
|
500 001 – 800 000 |
15 |
|
800 001 – 3 000 000 |
17 |
|
3 000 001 - |
19 |
If the value of the owned real estate(s) does not exceed EUR 12500, property tax is not payable.