Annual Property Taxes

1. Immovable Property Tax

Immovable Property Tax is paid annually by 30th September of each year and is calculated based on the market value of the property as at 1/1/80.  The following rates apply:

Value of property 1/1/80
Rate
1 - 40.000 6‰  minimum tax €75
40.001 - 120.000 8‰
120.001 - 170.000 9‰
170.001 - 300.000 11‰
300.001 - 500.000 13‰
500.001 - 800.000 15‰
800.001 - 3.000.000 17‰
3.000.001 - 19‰

As of 1st January 2017 Immovable Property Tax has been abolished.

2. Municipality Tax

Municipality Tax is paid annually and is calculated on the market value of the property as at 1/1/80.  The rates applicable are between 1‰ - 2‰ depending on the local municipality authority.

As of 1st January 2017 Municipality Tax is calculated on the market value of the property as at 1/1/2013.  The applicable rates are as above.

3. Sewage Tax

Sewage Tax is calculated at 5‰ on the market value of the property as at 1/1/80.

As of 1st January 2017 Sewage Tax is calculated at 5‰ on the market value of the property as at 1/1/2013.

Note:  The market value of the property as at 1/1/80 and as at 1/1/2013 are written on the title deed.  In the cases where a separate title deed is needed to be issued the above annual taxes (immovable property tax, municipality tax, sewage tax) are paid by the developer and charged to the buyer.

4. Local Authority Fees

Depending on the local municipality these fees are between €100 - €350 per year.