Should IPT be a movable feast?
Posted: 09 May 2011 22:46
I was wondering if anyone ever gets a breakdown of the figures used to calculate their Immovable Property Tax?
We have been in correspondence with our developer for over a year now regarding the IPT and transfer of title deeds. He claims that he cannot give us a breakdown because it is too complicated to work out. The 1980 value is unknown and he has been charged for all the devlopment he has done and can't break it down. After many questions and requests for his figures he has reduced the IPT he is charging us from £400 CYP a year to £300 CYP a year so we seem to be in a bargaining situation rather than being any clearer on how the figure has been arrived at. Our lawyer is urging us to bargain more but without providing us with any 'facts' to base the bargaining on. Should we continue to bargain? Should we be considering paying at all? It's not a good time to be converting money to euros so it's tempting to leave it. But what would be the consequences of not having the title deeds? We have the deeds to the land I think (it's all in Greek) which we have been told means he can't mortgage our deeds so should we just leave it for a while?
Many thanks for any advice, comments or news on what others are doing.
We have been in correspondence with our developer for over a year now regarding the IPT and transfer of title deeds. He claims that he cannot give us a breakdown because it is too complicated to work out. The 1980 value is unknown and he has been charged for all the devlopment he has done and can't break it down. After many questions and requests for his figures he has reduced the IPT he is charging us from £400 CYP a year to £300 CYP a year so we seem to be in a bargaining situation rather than being any clearer on how the figure has been arrived at. Our lawyer is urging us to bargain more but without providing us with any 'facts' to base the bargaining on. Should we continue to bargain? Should we be considering paying at all? It's not a good time to be converting money to euros so it's tempting to leave it. But what would be the consequences of not having the title deeds? We have the deeds to the land I think (it's all in Greek) which we have been told means he can't mortgage our deeds so should we just leave it for a while?
Many thanks for any advice, comments or news on what others are doing.