Taxes and other charges
Posted: 09 Sep 2015 02:43
Dear Nigel, After many a holiday in Cyprus in November of last year I at last purchased my own holiday home on the island. It is a two bedroomed resale apartment in Paphos asking price 69,000 euros. I am still not entirely sure about all of the bills I will be receiving as time goes by. The communal charges are quite low at 200 euros per annum for which I am fully paid up for this year and for which I have received a receipt. I have a Cyprus bank account and direct debits set up for the water and electricity and the rubbish collection fees will be debited along with the water bill sometime in October I believe. The 1980 valuation was 22,000 euros and my neighbours tell me that all of the apartments in the block were valued at 75,000 euros for the 2013 valuation although I understand that that has been put on hold for now. However my lawyer assures me I will have no IPT to pay this year as that was deducted when I purchased the property?. What other charges will there be, The sewerage fees for example and any others you can tell me about. When are they due, Where do I pay them and roughly how much will I have to pay given the value and location of the property. Sorry to have so many questions but it is all still a bit confusing right now . Kindest regards, Philip.