Immovable Property Tax
Who needs to pay it?
This is an annual tax payable by all property owners in Cyprus, irrespective of their residence status.
It’s imposed on the market value of the property as of 1st January 1980 (sic), and you’re exempt from tax if this value is below CY£170,860, so there’s often nothing to pay. Above that value the tax rates are as follows:
| Property Value (€) | Tax Rate (%) | Cumulative Tax (€) |
| Up to 170,860 | 0 | |
| 170,861 – 427,150 | 2,5 | 641 |
| 427,151 – 854,300 | 3,5 | 2,136 |
| Over 854,300 | 4 |
Buildings under a preservation order or belonging to a charitable organisation are exempt. Immovable property tax is payable annually on 30th September.
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Also in this section
- Banks: Where to manage your finances
- Accounts: How to open a bank account in Cyprus
- Cash, Cheques & Credit Cards: How to use them
- Cost of Living: What is the cost of living in Cyprus?
- Importing & Exporting Money: How to receive and transfer money
- Taxes in Cyprus: An introduction to Cyprus' tax system
- Income Tax Liability: Who is liable to pay income tax?
- Taxable Income: What part of my income is taxable?
- Taxation of Foreign Pensions: How will your pension be taxed in Cyprus?
- Taxation of Property Income: How much is tax on property income?
- Income Tax Rates: Calculating your income tax
- Calculation & Tax Return: Filing and payment
- Immovable Property Tax: Who needs to pay it?
- Capital Gains Tax: Who needs to pay it?
- Value Added Tax: Rates & Exemptions
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