Owners of immovable properties are subject to annual Immovable Property Tax which is based on the market value of their property as assessed on 1st January 1980. The rate of taxation is as follows:

The above stated rates are applicable only after separate title deeds are transferred into the names of the Purchasers through the District Land and Surveys Department and not before.

Note: as immovable property tax is based upon the value of the property in 1980 which is much lower than the current market value the immovable tax for the majority of properties in Cyprus is approximately €85 - €170 per annum.

Purchasers are also liable for minor taxes such as municipal or village taxes, refuse collection, street lighting, sewerage etc. and they vary from €85 to €256 per annum depending on the size of the property, the area etc.