articles | 02 December 2015

€80m collected in property tax

Proceeds from immovable property tax for 2015 have reached some €80 million, with 80% of homeowners having already paid their dues.

According to data released by the Tax Department, 268,916 individuals had paid their property tax until November 29, adding €78.5million to the state treasury.

Senior Tax Officer Klelia Papadopoulou told Phileleftheros daily on Wednesday that the amount collected would most probably be closer to €80m with payments expected to surge on November 30, last day in which the 20% discount was offered.

The discount was given to people who paid by the end of November either online or through a bank, whereas the discount for paying directly at the tax office was 17.5%.

There will be no discount in December and a 10% penalty will be added on the tax due for those missing the December 31 deadline.

Data shows that dues were paid by 70% homeowners whose properties were in the high tax scale whereas the respective lower-scale figure was 80%.

Last payment date is December 31. Payments can be made either electronically via their website, or at banks, co-ops and district tax collection offices.

After December, property tax payments can only be made at the district tax collection offices and will bear a 10% charge over and above the tax due, plus interest and administrative costs.

Source: InCyprus

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