Ipt Tax

[mick pattman]

Hi we have just completed the purchase of a villa in Gialia and the 2013 value for the property was 364,100.00 but we paid a lot less I am reading on the net that we pay on the higher value how do you work out how much a year the property will cost as I'm trying to work out a budget. Any help would be much appreciated.

[Nigel Howarth]

Hi Mick,

No-one knows what the 'new' tax rates and banding will be, but the amount we will have to pay next year should be more or less the same as we paid this year.

The 2013 value of our place is more than €400,000 - and we paid €360 IPT this year - less the discount. So I would expect you should budget around €320.

Regards,

[mick pattman]

thanks for the reply on the tax