Cyprus-Forum.com

[CrookedRiverGuy]

How is "Individual owners are exempt from this tax if the 1980 value of their property is less than €12,500" to be understood?

(Re: http://www.afaudit.com/immovable-proper ... in-cyprus/ )


E.g for a piece of land that was valued at € 1000 in 1980 and built with a €300000 house in recent years; how much would the tax be?

[CBBB]

How is "Individual owners are exempt from this tax if the 1980 value of their property is less than €12,500" to be understood?

(Re: http://www.afaudit.com/immovable-proper ... in-cyprus/ )


E.g for a piece of land that was valued at € 1000 in 1980 and built with a €300000 house in recent years; how much would the tax be?

The link you provide is very out of date!

If the tax is based on the 1980 value as stated on the title deeds/kochani regardless of what has been built on it since, then there will be no tax to pay.

If it is to be based on the new valuations made in 2014 than it will be on that value.

[CrookedRiverGuy]

So the exercise of tax on property is a little random?

What would trigger a new valuation in 2014 or later?

[CBBB]

So the exercise of tax on property is a little random?

What would trigger a new valuation in 2014 or later?

All properties were revalued by the government in 2014 for property tax purposes, the value has nothing to do with the market value.

The inention is to use that valuation for property tax this year, but with different percentages.

If you have the title deeds you can go here and find the 2014 valuation given to a property.

http://parcel.dls.moi.gov.cy/search/ParcelSearchEN.aspx

[Tim Drayton]

Will this tax be imposed again this year? Originally, it was going to be a one-off affair because of the crisis.

[CBBB]

Will this tax be imposed again this year? Originally, it was going to be a one-off affair because of the crisis.

It is an annual tax and this year should be on the 2014 values. I am not sure, but I think this year it will be the only property tax, municipalities will not charge separately.