Immovable Property Tax
Immovable property tax is imposed on the market value of immovable property as at 1 January 1980 and is calculated on the immovable owned by the taxpayer on 1 January of each year.
Rates
* Property owners with total property value not exceeding €12,500 (using values of 1 January 1980) are exempt from immovable property tax
| Property Value € | Rate % | Tax € | Cumulative Tax € |
|---|---|---|---|
| 1-40,000 * | 0.60 | 240 | 240 |
| 40,001-120,000 | 0.80 | 640 | 880 |
| 120,001-170,000 | 0.90 | 450 | 1,330 |
| 170,001-300,000 | 1.10 | 1,430 | 2,760 |
| 300,001-500,000 | 1.30 | 2,600 | 5,360 |
| 500,001-800,000 | 1.50 | 4,500 | 9,860 |
| 800,001-3,000,000 | 1.70 | 37,900 | 47,260 |
| 3,000,001+ | 1.90 |
Exemptions
The following properties are exempt from immovable property tax:
- Public cemeteries
- Churches and other religious buildings
- Public hospitals
- Schools
- Immovable property owned by the republic, foreign embassies and consulates
- Buildings under a preservations order subject to conditions
- Buildings of charitable organizations
- Agricultural land used for agriculture or animal husbandry by a farmer
- Immovable property situated in inaccessible or depressed areas
- Property of missing person under administration