Every land owner in Cyprus has obligation to settle his/her immovable property tax by 30 September each year on the market value as at 1 January 1980. With effect from 1st January 2013 the new immovable tax rates are:
- First €40,000 0.6% (minimum charge €75)
- Next €80,000 0.8%
- Next €50,000 0.9%
- Next €130,000 1.1%
- Next €200,000 1.3%
- Next €300,000 1.5%
- Next €2,200,000 1.7%
- Above €3,000,000 1.9%
Please note:
- In case of late payment, 10% penalty will be imposed on tax payable;
- In case of early payment (30 days before the due date), 10% discount will be applicable.
