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29th May 2022
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HomeProperty NewsMoney off your Immovable Property Tax bill (updated)

Money off your Immovable Property Tax bill (updated)

immovable property tax savings
FINALLY, after more than two months of hot air, speculation, rumour and debate, amendments to the Immovable Property Tax law for 2013 were passed by a slim majority of MPs at yesterday’s plenary session of the House of Representatives.

Only 15 of the 54 MPs present voted for the bill amendments; 39 abstained.

Under the revised provisions of the Immovable Property Tax Law (No. 24/1980) all owners of property in Cyprus whose 1980 value exceeds €12,500 are liable to pay an annual tax to the Inland Revenue based on the total 1980 value of all immovable property registered in their name on 1st January 2013.

The amendment affects around 52,000 property owners and will result in some €12.7 million less revenue for the state.

The revised law, which was originally introduced in May, is designed to achieve one of the bailout conditions that Cyprus agreed with its international lenders, i.e. to ensure that a further €75 million is collected by the state from property taxation.

The revised Immovable Property Tax rates for 2013 are as follows:

Assessed 1980 Property Value
Tax Rate
Cumulative Tax
€1 to €12,500 nil €0 €0
€12,501 to ?€40,000 0.6% €240 €240
€40,001 to €?120,000 0.8% €640 €880
€?120,001 to €?170,000 0.9% €450 €1,330
€170,001 to €?300,000 1.1% €1,430 €2,760
€?300,001 to €?500,000 1.3% €2,600 €5,360
€500,001 to €?800,000 1.5% €4,500 €9,860
€800,001 to €?3,000,000 1.7% €37,400 €47,260
More than ?€3,000,000 1.9%

Those owning property whose total 1980 value exceeds €12,500 will pay tax on their total 1980 value.

The changes brought about by the final set of amendments for the current tax year:

  • Remove the minimum IPT payment of €75.
  • Exempt owners of properties whose total 1980 value is no more than €12,500 from IPT.
  • Owners of properties whose 1980 value exceeds €12,500 will pay tax on their total 1980 value and will not benefit from the €12,500 exemption.

To date, Immovable Property Tax notices have been sent to all owners of properties whose 1980 value is €12,500 or more and the state has collected approximately €14.4 million in additional revenue.

How much Immovable Property Tax (IPT) will I pay?

The amount of tax you pay will be calculated by an Inland Revenue officer and will be based on the total 1980 value of all the properties registered in your name as shown on their Title Deeds – or more correctly the ‘Certificate of Registration of Immovable Property’ – in Greek ‘????????????? ???????? ???????? ???????????’.

For example, if a property is registered in a single name and has a 1980 value of €60,000, its owner will be asked to pay:

On the first €40,000 – 0.6% = €240

On the remaining €20,000 – 0.8% = €160

Total IPT payable = €400

If the same property is registered in joint names (e.g. between a husband and wife) each of their IPT liability will be calculated on half the 1980 value – €30,000 – and each will be asked to pay:

On their half share (€30,000) – 0.6% = €180

Total IPT payable by both joint owners – €360 (€180 each)


Permanent residents

Permanent residents can either wait for their Immovable Property Tax notices to be delivered and then register and pay on-line via the JCC Smart website by clicking on the Inland Revenue icon – or they may visit their local Inland Revenue office, taking with them:

  • The Title Deeds for all the properties registered in their name – Form No. 131A – earlier version 131. (Note that clear photocopies may be acceptable).
  • Their ‘Yellow Slip’ – Certificate of Registration – Form No. MEU1.
  • A completed Form 303.
  • In some cases a completed Form 302 may be required.
  • ID Card or passport.

(Those who have received their Immovable Property Tax notice may also visit their local Inland Revenue Office or bank and pay using cash or credit card, taking the tax notice and ID Card or passport with them – participating banks – the Bank of Cyprus, Hellenic Bank, Alpha Bank Cyprus, Ethniki Bank (Cyprus), Piraeus Bank (Cyprus) Ltd, Emporiki Bank-Cyprus, USB Bank, Eurobank (Cyprus) or their co-operative bank).

Non residents

The registered owners of property who are not resident in Cyprus and who are unable to visit their local Inland Revenue office may appoint a representative on the island to deal with this matter on their behalf. They should provide their representative with:

Their permanent address and other contact details.

  • A clear copy of their passport.
  • A clear copy of the Title Deed for each property registered in their name.

Alternatively, they may send an email to stating:

  • Their name and contact details (permanent address and telephone number)

The Inland Revenue will send them the forms to complete and return.

Inland Revenue forms 303 and 302

Inland Revenue forms 303 and 302 are only available in Greek, but to help English-speakers to complete them I have translated the both forms. In addition I have mapped the relevant entries on a Title Deed to the relevant table entries on the form 303. (Note that the table on form 302 is identical to that on the form 303).

Click here to download translated form 303 (with example) and here to download translated form 302.

Early payment discount

Those who pay their IPT by 5th November will enjoy a 10% discount, while those who delay paying until after the 15th November will face a penalty of 10% on the tax they owe plus a pro-rata 4.75 per cent annual interest rate.

Inland Revenue help lines

The Inland Revenue has opened a number of help lines for those with Immovable Property Tax queries:

22807488 25803700 24803658 23811458 26804342
22807277 25803837 24803655 26804337


I would like to thank Mrs Liana Charalambous Tanou, Chief Revenue Officer with the Inland Revenue Department in Nicosia, and the management and staff of the Limassol Inland Revenue office for their time and patience in explaining the IPT payment system to me.

Further reading

Pavlos Loizou, Managing Partner at Leaf Research has prepared a presentation on Immovable Property Tax in English and Greek.



  1. We purchased a apartment on Pafos Riviera in June 2009. We are continuing to pay the developer, G & V Hadjidemosthenous , Immovable property tax annually. What proof do we have that Hadjidemosthenous is actually paying the Government for this tax.

    We do not have our Title Deeds yet.

  2. @Mary Harrison – before paying the developer Immovable Property Tax, he must supply you with records of the amount paid as Immovable Property Tax (IPT) on your behalf and a certificate showing the rate of IPT applicable to the property.

    Please see this letter from the Interior Ministry. (If your developer supplies you with records as required by the Ministry, then you can be sure he has paid the tax).

  3. @Johnny Cyprus – no-one knows the IPT rates and tax bands for next year – including the government!

    All properties are currently being re-valued as per the agreement reached between the troika and Cyprus. The date to complete is Q2 2014.

    The agreed date for implementing the Immovable Property Tax for next year is Q3 2014.

  4. Please, does anyone have information on the new IPT rates and bands to be applied once the basis has been switched from 1980 to 2013 values?

  5. @Despina Michaelides – There are a number of exemptions. Here’s a full list (in Greek), which does include agricultural land (with qualifications).

    18. Δεν επιβάλλεται ή εισπράττεται φόρος επί των ακολούθων:

    (α) δημοσίων τόπων ταφής

    (β) εκκλησιών, παρεκκλησιών, τεμενών, οικημάτων συνελεύσεως ή κτιρίων ή μέρους αυτών αφιερωμένων αποκλειστικώς εις την άσκησιν δημοσίων θρησκευτικών ιεροτελεστιών•

    (γ) οικημάτων χρησιμοποιουμένων ως δημοσίων νοσοκομείων

    (δ) ακινήτου ιδιοκτησίας

    (ι) κατεχομένης υπό ή εγγεγραμμένης εν τοις βιβλίοις του Επαρχιακού Κτηματολογικού Γραφείου εν ονόματι οιουδήποτε σχολείου λειτουργούντος βάσει του εκάστοτε εν ισχύϊ νόμου αφορώντος εις την Στοιχειώδη, Μέσην ή Ανωτέραν Παιδείαν

    (ιι) ανηκούσης εις την Δημοκρατίαν

    (ιιι) ανηκούσης εις ξένον κράτος και χρησιμοποιουμένης υπό του τοιούτου κράτους ως πρεσβείας ή προξενείου ή ως επισήμου διαμονής του διπλωματικού αντιπροσώπου του περί ου ο λόγος κράτους, νοουμένου ότι το ενδιαφερόμενον κράτος παρέχει αμοιβαίως απαλλαγήν από του φόρου της αυτής ή παρομοίας φύσεως αναφορικώς προς ακίνητον ιδιοκτησίαν εν τω κράτει τούτω ανήκουσαν εις την Δημοκρατίαν

    (ιν) κατεχομένης ή χρησιμοποιουμένης αποκλειστικώς δια τους σκοπούς οιουδήποτε φιλανθρωπικού ιδρύματος δημοσίου χαρακτήρος συντηρουμένου κυρίως δια δωρεών ή εκουσίων εισφορών καθ’ ην έκτασιν η τοιαύτη ακίνητος ιδιοκτησία κατέχεται δια τους τοιούτους σκοπούς

    (ιν) εγγεγραμμένης ή καταγεγραμμένης εν τοις βιβλίοις του Επαρχιακού Κτηματολογικού Γραφείου ως τόπου κοινής νομής

    (ν) καταγεγραμμένης ή εκχωρησθείσης απόαμνημονεύτων χρόνων προς κοινήν χρήσινκοινότητός τινος•

    (νι) ανηκούσης εις δήμον ή οργανισμόν δημοσίας ωφελείας κατόπιν της επί τούτωεισηγήσεως του Υπουργού Οικονομικών και αποφάσεως του Υπουργικού Συμβουλίου και υπό τοιούτους όρους οίους ήθελε προβλέψει το Υπουργικόν Συμβούλιον εν τη Αποφάσει:

    Nοείται ότι,η υποπαράγραφος αυτή δεν εφαρμόζεται επί ακίνητης ιδιοκτησίας, η οποία χρησιμοποιείται για δραστηριότητα που συνιστάται στην προσφορά αγαθών ή υπηρεσιών σε δεδομένη αγορά και η οποία, τουλάχιστον καταρχήν,ενδέχεται να ασκείται από ιδιωτικό νομικό πρόσωπο κερδοσκοπικού χαρακτήρα.

    (νιι) ευρισκομένης, λόγω της Τουρκικής Εισβολής, εις απροσπελάστους περιοχάς

    (νιιι) κειμένης εντός δυσπραγούσης περιοχής ως αύτη ορίζεται εις το άρθρον 2 των περί Ενοικιοστασίου Νόμων του 1975 έως 1980, νοουμένου ότι το Υπουργικόν Συμβούλιον κέκτηται εξουσίαν όπως προβαίνη εις τας αναγκαίας αναπροσαρμογάς ώστε να καλυφθώσι και περιοχαί αίτινες ως εκ της συνορεύσεως ή της γειτνιάσεώς των εις τας κατεχομένας υπό των Τούρκων περιοχάς έχουν καταστή δυσπραγούσαι περιοχαί

    (ιx) αναφορικώς προς την οποίαν ισχύει Διάταγμα Διατηρήσεως εκδοθέν δυνάμει των περί Πολεοδομίας και Χωροταξίας Νόμων του 1972 και 1982:

    Νοείται ότι ο δυνάμει της παρούσης υποπαραγράφου φόρος δεν εισπράττεται ή επιβάλλεται δια τα έξ αμέσως επόμενα της συμπληρώσεως των έργων συντηρήσεως της τοιαύτης ακινήτου ιδιοκτησίας έτη:

    Νοείται περαιτέρω ότι η παρούσα υποπαράγραφος εφαρμόζεται μόνον εάν ο ιδιοκτήτης της τοιαύτης ακινήτου ιδιοκτησίας παρουσιάση πιστοποιητικόν του Υπουργού Εσωτερικών εις το οποίον να εμφαίνεται ότι τα έργα συντηρήσεως της τοιαύτης ακινήτου ιδιοκτησίας συνεπληρώθησαν.

    (ε) οικημάτων χρησιμοποιουμένων αποκλειστικώς δια τους βασικούς σκοπούς οιωνδήποτε φιλανθρωπικών ιδρυμάτων δημοσίου χαρακτήρος συντηρουμένων κυρίως δια δωρεών ή εκουσίων εισφορών και ανηκόντων εις αυτά

    (στ) γεωργικής ακινήτου ιδιοκτησίας (εξαιρουμένων οιωνδήποτε οικοδομημάτων ή ετέρων κτισμάτων ή έργων) ανηκούσης εις φυσικόν πρόσωπον το οποίον ασκεί κατά κύριον λόγον γεωργικήν ή κτηνοτροφικήν επιχείρησιν και διαμένει εντός της περιοχής ένθα ευρίσκεται η γεωργική ιδιοκτησία η οποία χρησιμοποιείται υπό του ιδιοκτήτου αποκλειστικώς δια γεωργικούς ή κτηνοτροφικούς σκοπούς.

  6. I have just looked at another site and apparently there are a small number of property classifications that are exempt and therefore make the property owners exempt from having to pay immovable property tax. One of the exemptions is agricultural land without buildings on it.

    Is this correct, as the land I own is agricultural without buildings on it.

    Please advise



  7. Very interesting article. We have an apartment which has been valued at 20,000 euros at 1980 prices. This property is in joint names, does this make our individual allowance is less than 12,500 euros and individually not liable to the immovable property tax?
    Here’s hoping. Paul

  8. @Despina Michaelides – Not yet – the Land Registry will not complete the revaluations until next year.

  9. Thank you for your quick response. In the past I have found it hard to obtain a valuation from an estate agent or professional valuer.

    However, does this mean, if I got in touch with the Land Registry now, will they be able to provide me with a valuation based on the 1980 valuation, and what information would I need to provide to them.?


  10. @@Despina Michaelides – yes the tax is calculated on the 1980 value of the land, which will be shown on its Title Deed (‘Πιστοποιητικό Εγγραφής Ακίνητης Ιδιοκτησίας’) regardless since when you have owned it.

    And if you want to find out the current value of the land, you will need to get it valued by an estate agent or a professional valuer. But the Land Registry is currently revaluing all properties in Cyprus so that next year Immovable Property Tax will be calculated on a property’s 2013 value (rather than the 1980 value used at present).

  11. Thank you for your reply.

    However, the land I own is from 1991, would the value of land in 1980 still apply to me even though I did not own the land until 1991.

    I just have another point. I have no idea how much the land is worth. How do I find out the value?

    Please advise.


  12. @Despina Michaelides – Yes Immovable Property Tax applies to all types of immovable property, including land.

  13. I am a resident of the UK but own some land in Cyprus. Will this IPT tax still apply for land. or does it relate to Property alone. Please advise

  14. Wife has paid IPT. With latest change, she is not liable. How does she claim a refund?

  15. Nigel, do you know if those of us who have already paid our IPT, but are now in the NIL tax band will get a refund for 2013 from IR ?

  16. @Nigel, thanks , you have saved the day again, and as per your previous example the tax liability for the property in your link below, is based on the figure highlighted in the red box as such:

    Title Deed

    Anyway I can only describe the queues at the inland rev as unreal,many people choosing to pay there despite having received the jcc code ref and being able to pay at a bank…..I recvd zilch in terms of a notice, as the mailing address ‘they’ had was a UK one back in the days when I was a resident in the UK…..bit of a mess and none of the offices are answering the phones…so may just have to turn up with the deeds, my old id….and current details and see if they can figure out the tax I am liable for……

  17. @demetri (October 1, 2013 at 9:09 pm)

    Rows B and C are only relevant if you’ve acquired or disposed of property during the current tax year:

    Row A is the 1980 value of property registered in your name at the start of the year.

    Row B is the 1980 value of the property that you acquired during the year.

    Row C is the 1980 value of any property that you disposed of during the year.

  18. @Andrew (October 1, 2013 at 6:58 pm)

    The figure on your deeds, €17,500, is the total 1980 value of the property. As you own it jointly and equally with your wife, your share and that of your wife is €8,750.

    So neither of you will be liable for IPT.

  19. Nigel or anyone else, please excuse my ignorance but am a tad confused with regards to filling in form 303,and adding up as shown, figure from section A market value of property as of 1.1.1980 PLUS B market value of property as of 1.1.1980 acquired during the year (as shown on page 2 part A) (where do I get this figure from ?) ….

    Are we saying the ipt is not simply done based on the 1.1.1980 values of property (as show on deeds?

    e.g for part A on the 303 form, if my only property is denoted on deeds as being worth 12,000 cyp pounds in 1980 terms I am taxed solely on this? thanks, had a nightmare time at the Larnaca land registry was sent from pillar to post for over 2 hours and ended being told go to Limassol inland rev to get this sorted as we cannot get them on the phone…..long story

  20. Nigel

    Thank you for your time it is appreciated.

    I am seeking clarity on a couple of points. We got our title deeds at the end of last year in in my name and my wife’s each deed has 17500 euro on it is this the value of the whole property or our 50% share.

    If it is the total value our share is 8750 euro is the IPT based on the total value of the property or the amount owned by each individual as it will determine if we need to pay or not.


  21. @Lyn – You need to download the forms onto your computer and use the latest version of the (free) Adobe Acrobat Reader to view and print them.

    I suggest that you email the Inland Revenue Department (details in the article) and they will send you the forms to complete and return.

    As for a quiet retirement, I’m still a young man :-)

  22. Our land deeds show a 1980 value of £1575, as the plot is 2400 sq m and the property built on it in 08 is 238sq m we’d fully expect to pay IPT as a whole. But nothing is yet registered on the plot, after years of trying we gave up on completion certificate tbh and just hope it all works out in future, all permissions are in order so apart from that one important piece of paper were legit.

    I feel we must pay some IPT, yet can’t get answers. We are non residents and I’ve asked the tenants who work for the SBA to let us know if anything comes to the house, so far nothing. I don’t want to send them on a wild goose chase but, is it worth me sending the tenant armed with copies of deeds and passports to the tax office for us? Btw I see we need correct forms to fill in also, but we need the translations, is it me as they’re not translated for me when I download.

    Thanks as always Nigel, will you ever get a quiet retirement there eh? X

  23. @Chris Hiscock – You’re both in the clear – neither of you should be liable for IPT (for this year at least).

  24. Nigel,

    Many thanks for your swift and informed response. Taking your advice, I have looked at our title deeds and the 1980 value is stated as 21,500 Euro. We own this jointly so our liability is half this, ie 10,750.

    This puts each of us in the nil tax band. Am I right or will something else pop up?


  25. @Chris Hiscock (September 30, 2013 at 10:41 am)

    As you have already paid Immovable Property Tax for this year, there is no need to pay it again.

    The Land Registry assesses the 1980 value of a property when its Title Deed is issued/amended and this value is shown on the deed – see this example.

    As to whether it’s an additional tax to be paid by every owner, the third paragraph of my article answers your question:

    “Under the revised provisions of the Immovable Property Tax Law (No. 24/1980) all owners of property in Cyprus whose 1980 value exceeds €12,500 are liable to pay an annual tax to the Inland Revenue based on the total 1980 value of all immovable property registered in their name on 1st January 2013.”

  26. Bought our Larnaca apartment off plan and paid last payment in January 2007. We have title deeds now and own it jointly and have paid all taxes including IPT.

    Is this an additional tax to be paid by every owner?

    My property was completed in 2007, therefore there is no 1980 value?

    Advice please.


  27. @Stan Bateman (September 30, 2013 at 6:08 am)
    @Ray Atkinson (September 30, 2013 at 7:56 am)

    As the properties are registered in joint names, the 1980 value of each taxpayer is below the €12,500 at which IPT becomes payable.

    So nothing for you to pay this year and no need to contact the tax office, fill out any forms, etc.

  28. Our property is in joint names, and the Title Deeds shows a page in each of our names with a 1980 value of 23.500 euro.

    Is 23.500 the total valuation, or is it half of it, divided between the two of us?

    If 23,500 is the total value, then as I understand it, we have nothing to pay.

    Very many thanks for this extremely useful thread.

  29. Nigel, I thank you very much for your answer to my earlier question, you must have the patience of a saint to deal with this ridiculous situation! However, I have read through all the comments and can’t find an answer to my present query. We, as honest UK types, heard and read your site about the IPT, and arranged through our solicitor to pay up pdq. We also told a number of non-residents who followed our lead. We now find that we are exempt from paying this tax for this year at least, is there any point in trying to recoup this money, or do we hope that the tax dept will credit it against next years tax? I fear we won’t be quite so prompt in the future. No insult intended to your sterling work on this subject! Thanks again

  30. Hello Nigel
    Thanks for your easy to follow and detailed info, which only you seem to be capable of in the whole of Cyprus.

    As our 1-1-80 valuation is below €12,500 each (total €23,400 between two joint owners), but we haven’t received anything from the Tax Office, can we just forget the whole thing?

    Stan Bateman, Pissouri.

  31. @Melissa Lowndes – As far as I am aware there have been no authorised English translations of Law Chapter 224 in recent times.

  32. @allure (September 28, 2013 at 12:46 pm)

    No – the changes to the law will have made no difference to your Immovable Property Tax.

  33. @Pauline Chamberlain (September 28, 2013 at 12:43 pm)

    The €12,500 exemption applies to the person (taxpayer).

    So if a property has a 1980 value of €24,000 and is jointly and equally owned, both joint owners will be exempt from paying Immovable Property Tax under the revised provisions of the law as the 1980 value of their share of the property will be €12,000.

  34. @Michael (September 28, 2013)

    Not entitled to a discount because you have a mortgage!

    Your developer is speaking through an orifice normally reserved for another purpose!!

  35. @Pamela Caulfield (September 28, 2013 at 11:10 am)

    If you believe you have paid too much because the Inland Revenue used a wrong figure to calculate your Immovable Property Tax, you can apply for a refund at the Inland Revenue Office.

  36. @Deanna (September 28, 2013 at 11:06 am)

    Property Transfer Fees are calculated on the market value of a property at its date of purchase, which is assessed by ‘valuations desk’ at the Land Registry when you pay the transfer fees. As we are now using Euros, your CYP32,000 equates to €54,675.25.

    You can calculate your property transfer fees on-line by visiting the Cyprus Department of Lands and Surveys – Transfer Fees Calculator.

    I am concerned that your Title Deeds are taking so long to issue (23 years). I suggest that you get in touch with your developer or lawyer to find out what’s causing the delay.

  37. No I have one property, so does this mean if I haven’t paid already and earlier there would have been a getting back ?

  38. We have paid our IPT – minimum 75 euro each. Is the 12,500 applicable to the property or the person? Our Deeds are in both names and we were taxed at 10,500 each. We were told before leaving Larnaca that the rate applied to the individual ownership but it is not clear.

  39. We have paid our IPT as advised by our developers as they informed us that we were not entitled to a 10% reduction as we have a mortgage on our property. Is this correct?

  40. I have paid too much IPT for 2013 as the Inland revenue valued it at a higher rate than subsequently the Land Registry. When can I expect a rebate?

  41. Nigel, you mentioned Transfer fees. My late husband and I purchased our terraced cottage on-plan for C£32,000 in 1990 (still waiting for Deeds!). How is the rate for Transfer tax calculated please?

  42. @allure – there’s nothing in amendments about getting back any earlier payments.

    If you paid €165, I doubt the changes will have affected you unless you have two properties?

  43. I have paid my IPT which was 165 so now after the new updated tax bill do I get back the minimum IPT payment of €75. what happens here?

  44. @jon frazer – assuming your developer pays IPT at the top rate, he will have paid €1,190 on your behalf since 2005 (and I guess you purchased before that).

    A memo is a charge against the property resulting from a court judgement in favour of a creditor (Inland Revenue) against the other party (your developer) for the recovery of a debt (unpaid taxes).

  45. I refer to an article you published on 19th October 2008. “Immovable Property Tax and Fraudulent Practices”. This report was compiled by CPAG with expert legal opinion.

    From the section “What Buyers Can Do To Protect Themselves From This Fraud”.
    (Quote): “The purchaser may refuse to pay more than what he is entitled to recover from the I.R.D. WITHOUT COMMITTING BREACH OF HIS CONTRACT.”

    (Also): “At title deed transfer time, the developer has already paid all the IPT owing on a site, AS A CONDITION OF GETTING DEEDS SEPARATION, so knows down to the last cent what has been paid”.

    Our developer is withholding our deeds unless we pay his “taxes”, demanding about 4,800 euros since 2005, and threatening that the IRD will place a “memo” against it, rendering it “unsaleable”. I recently got a figure from the land registry for the 1980 value, of 35,000 euros. Even allowing for the doubling of IPT in the past couple of years, the true amount should be around 5-600 euros.

    Naturally we have not responded. Furthermore the matter has been with the ECHR for nearly two years.

    I suspect all the current “IPT” ballyhoo is intended to impress the visiting Troika that something is being done!

    BTW, anyone know exactly what a “memo” is?

  46. @Gill – It’s quite simple – if you don’t have the Title Deeds you do not own the property.

    Until such time as the Title Deed for the property has been issued and you have paid the Property Transfer Fees, it’s owner will be the vendor as shown on your sale agreement (most probably the developer).

  47. @Frances – yes you will have to pay Immovable Property Tax. IPT is levied on all immovable property, which includes land and everything constructed on that land.

  48. The title deeds for my house were only issued in February 2013, do I still have to pay the tax this year? Before that I had the title deed for the land only (in my name).

  49. What will happen when developers do not pay. Would the government force them to pay or force them into bankruptcy. I doubt that very much. In reality some developers will pay late and then pass on THEIR surcharge to the hapless purchasers and the others will ignore the demands with their usual disregard for the rules of the game. This will leave homebuyers with more worries.

  50. @Vassili – Your lawyer could act as you representative – or you could wait and hope that you’ll be able to pay electronically.

  51. “you’ll either have to visit Cyprus and pay in person or appoint a representative.”

    So what does one do if they do not have a relative to pay the tax for them and are unable to visit the island?

  52. @June – It is property owners who are liable for IPT.

    Until such time as the Title Deed for the apartment has been issued and you have paid the Property Transfer Fees, it’s owner will be the vendor as shown on your sale agreement (most probably the developer).

    The developer will pay IPT and then reclaim it from you.

  53. @Donald – As I mentioned in an earlier reply to the same question, there is no option of paying on-line at the moment – you’ll either have to visit Cyprus and pay in person or appoint a representative.

  54. I haven’t got title deeds for a 2 bed apartment I bought with my partner in 2007. How can I find out the 1980 value if I want to pay without deeds, as is being suggested by the government.

  55. As non resident and wanting to pay IPT on my Cyprus property can it be arranged via form with details ie TD passport etc submitted by post and upon receipt back from tax office pay by JCC

  56. Hi,

    I am a non-resident in Cyprus and a fellow owners has agreed to take my paperwork to the tax office re the IPT.

    Do you know what paperwork he needs to be seen by the tax office as my representative. Is it just the documents you have stated above.

    Thanks for your help, enjoy the articles and very informative.


  57. @Godfrey – All owners are entitled to a 10% discount if they pay before the deadline regardless of whether the property is owned in a single name or jointly.

    CY37.50 is equivalent to €64.07, so your Immovable Property Tax liability would have to be €640.07 to receive that discount.

    (Also I have received some reports that even with a discount, the minimum payable is €75).

  58. Thank you Nigel, another brilliant and most helpful piece of work. Also thanks to all of those who have contributed additional and very useful information regarding the quirks of the Paphos Tax Office. One quick question: am I right in thinking that sole owners of property are entitled to a discount of what was 37.50 Cyprus pounds?

  59. @Sheila – The law applies to all property, regardless of when it was built.

    When a Title Deed is issued, the Land Registry assesses the 1980 value of the property and enters this value on the Title Deed – this amount is used to calculate Immovable Property Tax.

  60. I would gladly pay, with or even without the incentive of a reduction, but have NO TITLE DEEDS!!!!!

  61. As a point of interest: Without Title Deeds the Inland Revenue is not interested in your attempt to pay the Immovable Property Tax, so don’t waste your journey and frustration hoping to save the 10% reduction, apparently it is left with the Developer who will undoubtedly add interest to the amount adding up annually.

    However as I’ve now been waiting 9 years for my Title Deeds without any progress information, I have no intention whatsoever of paying money to anyone until I do receive them!

  62. The Paphos tax office is requesting form 301 not mentioned in Nigel’s article. This is in Greek with no translation offered,can anyone offer assistance?

  63. @David MacGregor – yes – that’s correct. This IPT tax is in addition to the local property/council tax.

  64. Nigel,

    Thanks for the information on the new IPT.

    Most helpful.

    I assume that this IPT tax is in addition to that which we pay to our local council. (In our case Peyia)

  65. @Paul – There is no option of paying on-line at the moment – you’ll either have to visit Cyprus and pay in person or appoint a representative.

    Next year the system should be integrated with the other IR payment systems and you should be able to use use TAXISnet to pay on-line.

  66. Hi,
    If you are not resident and do not wish to appoint a representative is there another option like paying on line?

    Thanks, Paul

  67. Thank you Nigel for such an interesting article. I am however a bit confused (OK senior moment so to speak) given my recent experience.

    I bought two apartments in Limassol, built/developed by Cybarco, and although fully paid for many years I only followed up on Title Deeds acquisition a few months back. BTW I obtained my deeds yesterday Friday, 7th June 2013.

    Prior to giving me the all clear I had to pay back IPT, to Cybarco including IPT for 2013 which they charged me €1,025.16 for the 3 bedroom flat which is valued at 1/1/1980 at €51,258.04. The IPT Cybarco charged for last year, for the same flat was €410.06. Going by the schedule provided in the revised law I calculated IPT for 2013 to be @ €330.

    The amount I calculated appears less than what I was charged for in 2012! and it is certainly threefold for 2013 – going by what I paid Cybarco


  68. @Murdoch Graham – Immovable Property Tax is very confusing – there is no equivalent in the UK.

    Cybarco are a large company and the total 1980 value of all the properties registered in their name would exceed €3 million – and as a consequence they would pay IPT at the highest rate (1.9% this year).

    So even though the apartment you purchased has a 1980 value of €51,258.04, Cybarco would have paid tax on this at the highest rate – 1.9% = €974.

    The system is further complicated (there’s a surprise) because the Inland Revenue calculates the tax payable on the information on the return supplied by Cybarco.

    However, it is the Land Registry that assess the 1980 value of a property when it’s deed is issued/changed.

    You should be able to submit a claim to the Inland Revenue Department to recover any legitimate overpayments you may have made to Cybarco. You can find more information on how to do this at Cyprus Immovable Property Tax law – where you’ll find a translation of the form and a letter from the Interior Ministry that may help.

  69. @Rosemarie – There are indeed many multiple-owned plots of land and properties.

    It’s generally OK for foreigners who tend to have a single property, but many Cypriot properties are jointly owned by members of the same family – and some Cypriot friends of mine have small shares in several family-owned properties.

    Changing your joint titles to sole ownership could prove expensive as you’ll have to pay Property Transfer Fees.

    The revaluation has already started – a friend of mine in the next village was visited last week. Hopefully the amount of tax we will be asked to pay will remain roughly the same next year following the revaluation.

  70. @Nigel.Thank you for the clarification. As you say taxes rarely are fair. There are a lot of multiple owned plots around, so this will come as a bit of a nasty shock to some owners. We will have to consider carefully whether or not to change our joint titles to sole ownership before the big revaluation of 2014.

  71. @Rosemarie Delaney – Taxes are never fair – I’m sorry to say that both of you will each have to pay €75 (but you should each get a discount of 10%).

  72. Nigel, I’m calculating my IPT and can’t really get my head around the joint ownership situation.

    Our jointly owned plot (2 of us) is valued below the 12,500 euro level, so is it correct that we pay the minimum of 75 euro EACH, or just 75 Euro? It does not seem fair that if the plot was in my sole name I would only pay 75 euro.

  73. @Rosemarie Delaney – Thank you for your comments and I’m pleased to hear the information I provided helped your friends in Paphos.

    I have received some feedback from people living in Paphos. It seems that taxpayers there need to supply:

    Passports – originals & photocopies
    Title Deeds – original & photocopies
    Yellow slips – original & photocopies
    Completed Forms 303 302.

    It would help get the word out to as many people as possible if readers of the article could use the ‘Share the knowledge!’ buttons at the foot of the article to share it on Facebook, Google +, etc.

  74. @ Janis Davies & Nigel. A friend of mine, who is non-resident went to the Paphos tax office yesterday and completed the relevant forms and paid her dues.The tax office hold Nigel’s translated forms, which she brought for me to look at. Well done Nigel!!

    My friend told me when you enter the Paphos tax office you must go to the first floor to present your documents etc. There is a room with a sign “Foros” on the door. This office is open until 1pm. The collection office where you pay is on he ground floor.

    I was going to act as my friend’s representative as is mentioned in your article, but she found the time herself. However, she did say it would have been almost impossible for me to deal with the matter as there were so many questions asked of her which I couldn’t possibly have answered.

  75. In a normal purchasing scenario it is reasonable to expect both parties to adhere to the conditions set out in a sales contract. However there are occasions and I use the term lightly, when a developer has failed miserably to meet his obligations. Homes not finished, Completion certificates not issued, Building permits not obtained, public utilities not connected and title deeds not issued within the time-scale set out. In these circumstances it is maybe worthwhile for all parties to come together in front of the courts. Or to put it another way, when a developer has fulfilled his duties the buyer should be expected to pay his own taxes.

    Sooner or later someone, somewhere will realise that the property market will only recover when people get full unencumbered title deeds at the point of sale.

  76. @Andrew – Your contract of sale defines what you are purchasing and the obligation of both parties (you and the developer).

    Whether he completes the rest of the development according to the various permits and licences issued for its construction is irrelevant – it’s what’s in your contract of sale that counts.

    If you fail to adhere to the terms and conditions contained in your contract, your developer may sue you – and he will most probably obtain a judgement from the court in his favour.

    (The Land Registry should have the deeds available when you take delivery of a property).

  77. @Costas Apacket – the amount you should be paying for each of the 5 years after your property was handed over to you is the amount that the developer has paid to the Inland Revenue on your behalf.

    Note that the assessed 1980 value of the property you have purchased will be shown on the Title Deed when it is issued, not before.

  78. @Janis Davies – I’m not surprised that the Tala Board Office knows nothing about this tax – it has nothing to do with them.

    People wishing to pay need to visit the Inland Revenue Department in Paphos. I believe their address is Neofytou Nicolaidi, Building C, 8100 Paphos

  79. Dear Nigel, Thank you for your article on the IPT, which I passed to the Chairman of our Complex Committee here in Tala, Paphos. I also forwarded it to several friends who own properties on my complex. However, we are now very confused, as our Chairman visited the Tala Board Office this morning (6 June) and was told that presently there was no such law in place and that they had not been advised of any changes to the IPT. They did say that should they receive notification of a new law in this regard, that they would ensure that a letter is sent to every resident/owner in Tala. As you can imagine, we are all now somewhat confused re the present IPT situation.

  80. When a developer is withholding title deeds because he has not bothered to complete a project (there is always one unfinished house), why should a home buyer pay anything to the developer. Let the developer take court action against the buyer to get back the IPT he claims he has paid. After all the developer has been preventing buyers from selling their homes for many years, in some cases. Sure in theory you can sell a house without title deeds , but nowadays most people are wiser.

    Land registry should provide title deeds to everyone who has a sales contract lodged and then issue a demand for IPT to the rightful owner. GET IN THE REAL WORLD CYPRUS.

  81. Thanks for the info Nigel, much appreciated.

    Our property, in line with those of many others, was ‘completed’ and handed over to us after we paid the final purchase installment / tranche to our Developer, but the whole development was not fully completed for another 5 years, which is when the Certificate of Final Completion was issued by the Planning Office in the DLO.

    So during this 5 year period our property was fully completed, but the Development on which it sits was still being ‘developed’ up to the point just before the CoFC was issued 5 years later.

    So it’s a bit of a puzzle as to what IPT charges we should be paying for each of the 5 years after our property was handed over to us, but when it was presumably not shown on the Title Deed for the Development Land until the CoFC was issued at the end of the 5 year period after handover?

    We have the result of an N50 enquiry carried out at the DLO, approximately 2 years after our property was handed over to us, which shows a 1/1/80 value of circa 17,000 Euros which we think relates to the whole Development Plot, but we can’t be sure of this, and as usual there’s no one rushing to our aid, but if it does represent the value of the whole plot, and there are more than 20 houses built on this Development, then this would be less than 1000 Euros per property, which I don’t think incurrs any IPT charges?

    Obviously this 1000 Euro per property will increase as the properties are added to the deed, but to what extent, and when, is a total mystery!

  82. @Rosemarie Delaney – All owners of property are required to pay this tax (but I have to admit I don’t know this affects Turkish Cypriot landowners).

    In the example you give, each of those three owners would have to pay according to the value of their share. If (say) their IPT came to €55, they would have to pay the minimum – €75.

    If the owner of the property had gone into liquidation, the liquidator would pay the IPT (and other taxes owed) out of the money he realised by selling the owner’s assets.

  83. Nigel, thank you for your reply to my query.This must mean that on the face of it all landowners must pay at least 75 euro in IPT.

    Question: In the case of jointly owned property,for example a building plot with 3 joint owners who each own an unequal share. Would the IPT be divided based on each persons share? If it came to less than 75 euro would each pay enough to reach that amount for the whole plot?

    Question: Owner of a plot of land has not had the title transferred because the company who sold the plot obtained 2 mortgages on it and went into liquidation and title with the receiver. Who is responsible for IPT?

  84. @Costas Apacket – If the property cannot be added to the Title Deed for the land until the Certificate of Final Completion is issued does this mean that the increased value for IPT calculation only commences from the date of issue of the CoFC?

    The increased value for IPT purposes comes into force on the date that the Title Deed is issued bearing the assessed 1980 value of the land and the property. (note there are no part years, so if the deed is issued in July the tax is payable for the whole of the year).

    In your example:

    Sometime in 2004, after the developer has purchased the land, he submits an assessment to the Inland Revenue (IR) and pays the tax due.

    In 2005, the developer submits another assessment that includes the previous year plus the 1980 value of the improvements (construction work) he has made to the land and pays the tax due. To calculate the 1980 value of the improvements, I believe he uses the Inflation Index (but I’m not certain).

    The same happens every year until the Title Deeds for each of the properties have been issued and ownership has been transferred to their purchasers.

    Every year, the developer should ask those who have bought property to pay him the IPT that he has paid on their behalf to the Inland Revenue, providing them with the required information (see this letter from the Interior Ministry).

    Note that this requirement to pay Immovable Property Tax is invariably included in contracts of sale making purchasers liable from the date they take delivery.

  85. Many thanks for this! I’ve just returned from Limassol Tax office and paid up. No-one else in the queue to pay, according to lady who helped me.

    She does not expect too many know about this less 10% offer or would even pay up!

  86. @ Nigel. A very comprehensive reply which comes as quite a shock. So basically if you own a piece of land you are liable to 75 euro minimum.

  87. Hi Nigel, reference your very comprehensive response to Rosemary at 10.28 I have a couple of questions.

    If the property cannot be added to the Title Deed for the land until the Certificate of Final Completion is issued does this mean that the increased value for IPT calculation only commences from the date of issue of the CoFC?

    For example: A piece of land is purchased by a developer in 2004 and he proceeds to build 10 houses on the land starting construction in 2005 and completing construction in 2008. The CoFC is then issued in 2010 and the division of the land into 10 equal plots by the Land Registry is also completed in 2010.

    Q1. Is the IPT, that is payable by the Developer from 2004, calculated on just the 1980 value of the land up to 2010 and thereafter on the 1980 value of the land plus the 10 immovable properties from 2008 or does this happen from 2010, or does it all go back to 2004 even though the properties didn’t exist in 2004?

    Q2. If the contracts of sale for the 10 properties were lodged at the DLO in 2004, but the owners did not take possession, albeit illegally, until 2008, why should they be expected to pay IPT based on the 1980’s value of their individual plot of land and property, retrospectively from 2004, when the properties didn’t actually exist until 2008, illegally and 2010, legally?

  88. @Rosemarie Delaney – yes, Immovable Property Tax is payable on LAND and all other types of immovable property.

    If there is a construction built on that land that has yet to issued with a Certificate of Final Completion:

    a) it is a criminal offence to occupy or cause to be occupied such a building.

    b) as that building cannot be added to the deed for the land until its Certificate of Final Completion has been issued, IPT is payable on the land only.

    Once a Certificate of Final Completion has been issued, the construction can be added to the deed. The Land Registry will reassess the 1980 value of the immovable property, which will now include the land and the construction.

    According to article 2 of the Immovable Property (Tenure, Registration and Valuation) Law of Cyprus, Cap 224, ‘immovable property’ includes: land, buildings and other erections, structures or fixtures affixed to any land or to any building or other erection or structure; trees, vines and any other thing whatsoever planted or growing on any land and any produce thereof before severance; springs, wells, water and water rights whether held together with, or independently of, any land; privileges, liberties, easements and any other rights and advantages whatsoever appertaining or reputed to appertain to any land or to any building or other erection or structure; and an undivided share in any property hereinbefore set out.

    bet you’re sorry you asked :-)

  89. Thanks Nigel for this very helpful article.


    Is IPT payable on LAND (I have fields) or is it only on land with a CONSTRUCTION on it?

    What if there is a construction without the Final certificate…..does the tax relate to the LAND?

  90. @Stuart – If the developer hasn’t paid tax in previous years, the Inland Revenue will hit him with a fine.

    Unless you have the land (or the land and property) registered in your name – i.e. you have the Title Deed you cannot calculate how much should be paid to the Inland Revenue –

    If the developer hasn’t been submitting a return every year as he should be doing, the Inland Revenue will have no idea of how much he needs to pay.

  91. Nigel – very helpful.

    I’m in a similar position to Cathrine, what happens if the developer hasn’t paid any IPT in previous years, I took delivery of my house in Feb 2009, and the deeds since need to be adjusted to show a building on the plot, then transferred.

    How do I calculate what I need to pay to get up to date on IPT with the Inland Revenue, and should the developer pay this until I get the deeds transferred to our joint names? or should I visit them and find out how much I/developer needs to pay??


  92. @Cathrine Long – as you do not have the Title Deeds to your property, your developer will be responsible for paying the IPT on your house – and all the other houses on your development that have yet to be issued with their deeds.

    When the Land Registry issues a property deed, it assesses the 1980 value of that property (using its historical data) and enters that value on that deed.

    So when you do eventually get the deed to your property it will show the 1980 value and that is the value that the Inland Revenue will use to assess your IPT liability.

    When the developer pays the IPT, he may ask you to pay the amount of tax he has paid to the Inland Revenue on your behalf – this is perfectly normal. However, the nefarious developers will try and overcharge you – and you can read more about this and how to deal with it on my website at (please not he tax table on that page is out of date – I haven’t had time to update it for this year).

    The Immovable Property Tax system is expected to change next year as half a million properties on the island are currently being revalued as part of the bailout conditions agreed between Cyprus and its international lenders. We don’t know (yet) how this change will affect people.

  93. Thank you very much for this information. I do have some questions though, if you can please help?

    a)I bought the house in 2007 but still do not have title deeds-is the developer responsible for paying the IPT until I get the deeds?

    b) How do I know the value of my property, as it was built in 2007?

    thank you again! Cathie Long

  94. @Nigel – you say ‘If anything needs to be challenged in the ECHR, this most unfair system has to be at the top of the list’ – is there any possibility this will ever happen?

  95. For any developer who does pay IPT for the land and buildings portfolios for which he or she still has title deeds (for all the reasons we are now very familiar with), there is a nice easy way to make 10% over a few days on the whole immovable property tax bill. Pay the tax a few days before the August deadline and on transfer, charge the poor future owners the full tax anyway. After all, it’s the developer’s choice whether to pay early or not.

    If, on the other hand, the developer pays late, or not until transfer of title, the 10% penalty that he or she passes on to the future owner will mean the IPT interest bill will increase by the size of the annual IPT every 7 years. In other words, an extra year’s payment every 7 years.

    It seems the Cyprus authorities never miss an opportunity to support property developers and disadvantage purchasers.

  96. @Steve – I know that the nefarious developers attempt to overcharge IPT, often basing their calculation on the price that was paid for the property.

    If anyone is faced with this situation, I suggest they show the developer this letter from the Interior Ministry – and that they should only pay when the have been supplied with the required information.

  97. @Stuart Green – when the Land Registry issues a Title Deed for a property it assesses the 1980 value of a property based on its historical data.

    It then enters this value on the deed.

    If you look at the translated form 303 (with example) you will see that the assessed 1980 value of this property is €90,000 – this property was built in 2002/3.

  98. If anyone is confused about the translation of any form in any language all you need to do is go onto

    Copy the form or article and paste them into “Google Translate Greek into English” and the article will appear in English.

    Very easy and it’s free

  99. Hi Simon,

    My property was completed in 200& how do I find a 1980 value when it wasn’t even built .
    Kind Regards

  100. @Andrew and @Celia – I believe that the only option available to you is to pay the tax the developer owes yourself and then sue him to recover it.

    I know this happened some time ago with a block of apartments in Larnaca. The buyers had to club together and clear the developer’s tax debts before they could get title.

    If anything needs to be challenged in the ECHR, this most unfair system has to be at the top of the list.

    And as you point out Andrew, Title Deed on delivery of a property, as in most other civilised countries, would certainly cure this (and many other) problems.

  101. @Denton Mackrell – Unfortunately I cannot answer your question about the 302 form or the 301.

    I initially thought 302 had something to do with how long ago the Title was registered – but as mine was registered in 1996, there must be some other reason.

    I note that the 301 refers to minors (under 18 year olds) and may be relevant in a small number of cases.

    As far as I can see, all the information required is on the 303 – indeed the Inland Revenue officer used this form and my wife’s Certificate of Registration to register her on the tax system.

  102. @kufrahdog – I as talking with a (retired) lawyer a couple of weeks ago on this subject.

    It seems that people tend to pay this tax when (a) a property changes hands or (b) when someone dies and the property is transferred to the beneficiaries.

    The chances are that the Inland Revenue could not help even if it could put client confidentiality aside.

    There are many cases where developers only submit returns and pay this tax when the Title Deeds have been issued. As a consequence the Inland Revenue will have no idea beforehand how much tax is owed.

    (In one case I helped with some years ago, a developer had not paid this tax since starting the development for more than 20 years previously).

  103. @Jim – I have been advised that there are insufficient numbers of trained staff to value unregistered properties by June AND revalue all 500,000 properties by June 2014.

    As a consequence efforts are being focussed on the revaluation of all properties, which will include those which are currently unregistered.

  104. Is there any point in paying now, if the amount payable is likely to be changed following the review due by the end of June?

  105. Thank you, Nigel, for making this very clear. However, not all of us have such straight forward situations. Take the case of a purchaser who has registered his contract of sale with the vendor at the Land Registry but the vendor (who is also the developer) has not yet transferred the title and therefore remains the registered owner.

    In such a case can the purchaser obtain from the Inland Revenue (or any other authority) a statement showing the vendor’s IPT payments and any associated penalties for non-payment? After all the purchaser has a genuine vested interest because he will ultimately reimburse to the vendor the IPT payments made by the vendor from the time he (the purchaser) took possession of the property.

    Did the Inland Revenue throw any light on this kind of situation when you met with them? To put it another way, how can the Inland Revenue assist those purchasers whose transfer of title is obstructed by non-conformities or by vendors / developers who cannot be relied upon to tell the truth? Hiding behind ‘client confidentiality’ is not an option when transparency is required. I would welcome any information you may care to share.

  106. @Nigel. Much obliged! I already had forms 302 and 303 as well as 301 but no English version. Are you able to tell us what the criteria are for deciding whether a 303 or a 302 is required? Also, I have been advised that all three forms (301, 302 and 303) have to be submitted. Is this correct? It would appear not but clearly there is room for much confusion over 3 apparently similar forms.

  107. What is the position if you don’t have your deeds because of mortgages on the land, and the developer is in liquidation.

  108. Oh that I had my title deeds I would be only too happy to pay up! 5 years and counting.

  109. What will happen to those who have been waiting for many years for their title deeds. Will the developers be asked to pay. If so, who will pay when developers declare bankruptcy and have made no due payments to the Inland Revenue. What fines will then be apply. If we would all be in possession of title deeds at the point of sale there would be no confusion.

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