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:

  1. In case of late payment, 10% penalty will be imposed on tax payable;
  2. In case of early payment (30 days before the due date), 10% discount will be applicable.