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Cyprus Property \ Fees & Taxes
Fees & Taxes
Immovable Property Tax
The annual immovable property ownership tax is based upon the value of the property. Certain immovable types of property are exempt.
|
Value of Property (in Cyprus Pounds) |
Annual Property Tax (rate per thousand) |
|
Up to 100,000 |
exempt |
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100,001 to 250,000 |
2.0 |
|
250,001 to 500,000 |
3.0 |
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Over 500,000 |
3.5 |
IMPORTANT: Immovable property tax is based upon the value of the property in 1980 which is much lower than the current market value. So there is no immovable property tax for the majority of properties in Cyprus.
Local Authority Taxes and rates
Estimate roughly something between CY£ 50-150 per year depending on the size of your property. This tax is for garbage collection, street lighting, sewerage, etc...
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