1980 Valuation on properties

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RoyalT
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Joined: 10 Oct 2012 13:55

1980 Valuation on properties

Post by RoyalT » 11 Jul 2013 10:56

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?



Nigel Howarth
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Re: 1980 Valuation on properties

Post by Nigel Howarth » 11 Jul 2013 13:48

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,


Nigel Howarth
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