Pay before 31 October 2014 and get a 15% discount
Some properties may have been “notionally” revalued for the purposes of IPT for 2014. For example where it is known that a house has been built, but is not yet included on the title.
The immovable property tax for the year 2014 is due for payment by the 30th of November this year. Tax is payable in respect of any property valued on 1.1.1980 over €12,500.
If you did not receive an assessment for 2014 and where tax was paid last year you can take last year’s assessment to the tax office and pay based on that, because it will have your Tax Identification Number on it.
If you don’t receive a tax assessment, then you should complete (Τ.Φ. 303 2014) and pay the correct amount of tax. The form is available at: http://www.mof.gov.cy/ird
Payment can be made by taking the IPT tax assessment to the Tax Collection Department of your district tax office or through the website www.jccsmart.com (https://www.jccsmart.com/eBills/Welcome/Index/4888723)
Anyone wishing to pay on-line through the website www.jccsmart.com, should insert the JCC reference number which is printed on the Immovable Property Tax assessment received and pay the tax due using their credit card details.
Or payment can be made at any of the Local Banks.
Taxpayers wishing to pay through any of the Local Banks, should have the Immovable Property Tax assessment, their Identity Card and the amount of tax in cash or credit card.
If the IPT is fully paid by 31.10.2014, a discount of 15% on the tax payable will be allowed.
Any IPT paid after 30.11.2014 will bear a 10% penalty plus interest and any other administrative charges imposed by the law.
For any further information, please refer to the Immovable Property Tax Division at the District Office of the Tax Department where your tax file is kept or visit http://www.mof.gov.cy/ird
Immovable Property Tax Rates
The tax rates remain unchanged from last year:
| Assessed 1980 Property Value | Tax Rate | Tax | 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(ies) whose total 1980 value exceeds €12,500 will pay tax on their total 1980 value.
