# Immovable Property Tax



## Geraldine (Jan 3, 2009)

I am just enquiring if any forum members have paid this IPT as yet and can give me insight into the procedure please.


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## Guest (Aug 11, 2013)

Geraldine said:


> I am just enquiring if any forum members have paid this IPT as yet and can give me insight into the procedure please.


I don't think so because the authority should send a notification. That's why they prolonged the time until 15th of November.

Anders


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## PeteandSylv (Sep 24, 2008)

The latest I heard is that no bills would be sent out until 2014 as they are not ready to do so. The date extensions were for a different reason.

I am aware of other ex-pats who have paid their IPT having mentioned it on other forums. It may help to look at the following which was sent to me by my solicitor. Of course the deadline dates have to be updated.

_Under the provisions of the revised Immovable Property Tax law, all the owners of property in Cyprus will be liable to pay Immovable Property Tax. 

The Tax Office will not send out any bills, it is your responsibility to go there with a copy of your title deed, your passports (and a copy) to the Tax Office and complete some and pay. 

This is as follows: 

1. Are you a Cyprus tax resident and a tax ID number were given to you have not previously submitted a declaration of immovable property, and then you have to complete the forms E.Πρ. 301, 302 & 303 with a copy of the registration title 

2. Are you a tax resident in Cyprus and have a tax ID number was given to you and you have submitted in the past property declarations, then you have to complete the form E.Πρ. 303 with a copy of the registration title 

3. If you are not a tax resident in Cyprus and have not submitted a property statement in the past, then you have to complete the forms E.Πρ. 301, 302 & 303, with a copy of the registration title and also form E.Πρ. 163 with a copy of your passport. Do not forget to indicate and address in Cyprus for your mail to be sent. 

The Immovable Property Tax is based on the valuation on 01/01/1980, this valuation is noted on your title deed. 

The calculations will be as below, but with a minimum payment of Euro 75. (This applies for each owner on the title deed) 

Euro Value 

1 – 40.000 6.0‰ 

40.001 – 120.000 8.0‰ 

120.001 – 170.000 9.0‰ 

170.001 – 300.000 11.0‰ 

300.001 – 500.000 13.0‰ 

500.001 – 800.000 15.0‰ 

800.001 – 3.000.000 17.0‰ 

3.000.001 – and above 19.0‰ 

Also, any payments made before 31 August 2013 will receive a 10% discount. For payments after 30 September 2013 there will be penalties and interest on the amount._​
Pete


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## Guest (Aug 11, 2013)

PeteandSylv said:


> The latest I heard is that no bills would be sent out until 2014 as they are not ready to do so. The date extensions were for a different reason.
> 
> I am aware of other ex-pats who have paid their IPT having mentioned it on other forums. It may help to look at the following which was sent to me by my solicitor. Of course the deadline dates have to be updated.
> 
> ...


I think there is only one mistake. The tax should be with a 0. before and not after.
6% on 40000 is 2400 euro and not 240 that the actual tax is 

And 600000 for a 3 million residence, no I dont think so or..
Anders


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## PeteandSylv (Sep 24, 2008)

Vegaanders said:


> I think there is only one mistake. The tax should be with a 0. before and not after.
> 6% on 40000 is 2400 euro and not 240 that the actual tax is
> 
> And 600000 for a 3 million residence, no I dont think so or..
> Anders


He did not use the %, he used ‰ which means per thousand so although he is not wrong he, like many solicitors, is not as clear as he could be!

Pete


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## Geraldine (Jan 3, 2009)

I had the same notification from my lawyer.
I was just enquiring if anyone had actually paid as yet but it seems we can hang onto our money a bit longer.!t

Thanks


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## Guest (Aug 11, 2013)

PeteandSylv said:


> He did not use the %, he used ‰ which means per thousand so although he is not wrong he, like many solicitors, is not as clear as he could be!
> 
> Pete


My mistake:noidea:


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## kempo23 (Apr 27, 2012)

_....The Immovable Property Tax is based on the valuation on 01/01/1980, this valuation is noted on your title deed._ 

This still confuses me. Can anyone give me an idea of the 01/01/1980 valuation of a 3 bed villa built in 2004 and on the market today for 300k


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## Guest (Aug 19, 2013)

kempo23 said:


> _....The Immovable Property Tax is based on the valuation on 01/01/1980, this valuation is noted on your title deed._
> 
> This still confuses me. Can anyone give me an idea of the 01/01/1980 valuation of a 3 bed villa built in 2004 and on the market today for 300k


The price 1980 is written on the Title Deed. If no Deeds then it is about the buying price devided with 3,45 very ruff

Anders


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## PeteandSylv (Sep 24, 2008)

I know of 1 person who has paid his IPT who said the process was very easy and the office staff helpful in helping complete the forms.

Pete


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