Immovable Property Tax

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 *0.60240240
40,001-120,0000.80640880
120,001-170,0000.904501,330
170,001-300,0001.101,4302,760
300,001-500,0001.302,6005,360
500,001-800,0001.504,5009,860
800,001-3,000,0001.7037,90047,260
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