IPT Property Valuation

Questions about living in properties with shared/common facilities
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Tom
Posts: 18
Joined: 15 Nov 2012 19:05

IPT Property Valuation

Post by Tom »

Hi Nigel
Followed your instructions to find out the valuation of our property, but got stuck on the 1-5 digit number required in the Parcel Search. Completed Sheet Plan, Block appears to be zero, Scale 1:5000, Parcel 1-5 digit number required. Can you please advise what this relates to.
Many thanks
Tom
Nigel Howarth
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Re: IPT Property Valuation

Post by Nigel Howarth »

Hi Tom,

Check out the translation at http://www.news.cyprus-property-buyers. ... etails.pdf - it may help.

Cheers,
Nigel Howarth
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Contact Nigel Howarth
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Tom
Posts: 18
Joined: 15 Nov 2012 19:05

Re: IPT Property Valuation

Post by Tom »

Hi Nigel
Checked out your site it would appear the reference is to the Plot number, typed this in but message comes up 'No Records Found' We do not have title deeds could this be the problem.
Thanks
Tom
Nigel Howarth
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Re: IPT Property Valuation

Post by Nigel Howarth »

Tom wrote:We do not have title deeds could this be the problem.
You've hit the nail on the head - from what you say the deeds have not been issued. And if the deeds haven't been issued the Land Registry will not have assessed the property's 2013 taxation value.

You should also be aware that as you do not have its Title Deed, it is not 'your property' - you do not own it. It only becomes your property once the deeds have been issued and you have paid the Property Transfer Fees to transfer ownership to your name.

Regards,
Nigel Howarth
Independent information & advice for Cyprus property buyers
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Tom
Posts: 18
Joined: 15 Nov 2012 19:05

Re: IPT Property Valuation

Post by Tom »

Hi Nigel
If the property does not have an assessed 2013 value how will the IPT be calculated for 2015. ( assuming the new tax calculation is applied)
Tom
Nigel Howarth
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Re: IPT Property Valuation

Post by Nigel Howarth »

Tom wrote:If the property does not have an assessed 2013 value how will the IPT be calculated for 2015.
Last year you should have registered the property with the Tax Office and they will have calculated the IPT payable based on its assessment of the 1980 value. You'll need to speak with the Tax Office to see how they are going to calculate your IPT this year.

Regards,
Nigel Howarth
Independent information & advice for Cyprus property buyers
Contact Nigel Howarth
Read the latest Cyprus property news
Tom
Posts: 18
Joined: 15 Nov 2012 19:05

Re: IPT Property Valuation

Post by Tom »

Thanks Nigel
As you suggest we did register our property last year for IPT, and indeed payed the tax. Guess we will just have to wait for the surprise as to what the next valuation/assessment will be!!
Tom
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