Immovable Property Tax

Who needs to pay it?

Immovable Property Tax

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



170,861 – 427,150



427,151 – 854,300



Over 854,300



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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Other comments

  • Faris, 24 September 2012 Reply

    wrong math!

    Something wrong with this information.

    If the tax rate is correct, the cumulative tax rate would be ten times more. If the cumulative tax amount is correct, then the tax rate is per thousand, not per hundred...