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1980 Valuation on properties
Posted: 11 Jul 2013 08:56
by RoyalT
How can we assess a 1980 valuation on a 1st floor apartment that was completed in 2008? The apartment was bought in C£ in 2006 (off plan). We do not have title deeds so what is the formula to calculate IPTax?
Re: 1980 Valuation on properties
Posted: 11 Jul 2013 11:48
by Nigel Howarth
Welcome to the forum RoyalT,
It is the
owner of the property who is responsible for paying Immovable Property Tax - and as the Title Deed to the property you purchased have yet to be issued and ownership transferred to your name, it is the vendor named in your sale agreement who is responsible for paying.
The Land Registry assesses the 1980 values of properties when it issues their Title Deeds using its historical data (which is not available to the public).
For more information on IPT, please visit my web page at
Cyprus Immovable Property Tax law.
Regards,