All reports tagged with: "revaluation"
Sewerage rates in Cyprus, which are based on a property’s value as determined by the Land Registry need to be revised following the property revaluation exercise carried out in 2013 to prevent astronomic rises.
The Cyprus Interior Minister, Socrates Hasikos, has admitted that mistakes were made during the recent property revaluations exercise undertaken as part of the island’s bailout agreement.
Concerns have been raised over the process by which property valuations have been assessed with the Land Registry providing “unconvincing explanations” on how these have been calculated.
The Cyprus government is banking on a second term in office to implement its revised property tax system which will be based on current property values rather than those of 1980.