Immovable Property Tax

Immovable property tax is payable on 30 September each year and is imposed on the market value of immovable property as at 1 January 1980 and is calculated on the immovable property owned by the taxpayer on 1 January of each year. Both physical and legal persons are liable to this tax.

Applicable Rates up to 31/12/2011

 

Value of property € Rate %
0 – 170,860 0
170,861 – 427,150 0,25
427,151 – 854,300 0,35
854,301 and over 0,40

Applicable Rates from 1/1/2012

Value of property € Rate %
0 – 120,000 0
120,001 – 170,000 0,25
170,001 – 300,000 0,50
300,001 – 500,000 0,60
500,001 – 800,000 0,70
800,00 and over 0,80