Immovable Property Tax
Immovable property tax is imposed annually, in accordance with the Immovable Property Tax Laws 1980-2004, on the market value of immovable property as at 1 January 1980 and is calculated on the immovable property owned by the taxpayer on 1 January of each year. If the property did not exist on 1st January 1980 tax is imposed on the deemed value of the property as at 1st January 1980.
Rates
| Value of Property € | Rate % | Tax % | Cumulative Tax % |
| 0 – 170.860 | 0 | 0 | 0 |
| 170.861 – 427.150 | 0,25 | 641 | 641 |
| 170.861 – 427.150 | 0,35 | 1.495 | 2.136 |
Exemptions
The following properties are exempt from immovable property tax:
- Public cemeteries
- Churches and other religious buildings
- Public hospitals
- Schools
- Immovable property owned by the Republic, foreign embassies and consulates
- Buildings under a preservation order subject to conditions
- Buildings of charitable organizations
- Agricultural land used for agriculture or animal husbandry by a farmer
- Immovable properly situated in inaccessible or depressed areas
- Property of a missing person under administration.
