Annual Property Taxes and Fees in Cyprus


A. Immovable Property Ownership Tax


I
mmovable Property Tax has been abolished as of the 1st of January 2017.

Until the end of 2016, the registered owner of the property, was liable to an annual Immovable Property Ownership tax calculated on the market value of the property as at 1st of January 1980 (paid by the 30th of September in the year). Immovable Property Tax was payable to the Inland Revenue Department of the Republic of Cyprus.

Rates are as follows:

Value of Property
(as of 1/1/1980)

Up to €40.000
€ 40.001 – €120.000
€120.001 – €170.000
€170.001 – €300.000
€300.001 – €500.000
€500.001 – €800.000
€800.001 – €3.000.000
Over €3.000.000

 

Rate

0,6%
0,8%
0,9%
1,1%
1,3%
1,5%
1,7%
1,9%


B. Local Authority Fees
Depending on the size of your property, local authorities charge between €85 – €500 per annum for regular refuse collection, street lighting, sewerage and similar community services. Communal Services fees are payable to your local municipal authority.


C. Municipality Tax
 
As the registered owner of the property, you are required to pay an annual Municipality Tax, calculated on the market value of the property as at 1st of January 1980. Rates vary from 1‰ - 2‰. Municipality tax is payable to your local municipal authority.


D. Sewerage Tax
 
As the registered owner of the property, you are required to pay an annual Sewerage Tax, calculated on the market value of the property as at 1st of January 1980. Rates vary from 3‰ – 7‰. Sewerage taxes are payable annually to your local sewerage board.


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