The registered owner is liable for this annual tax which is based on the the market value of the immovable property on 1st January 1980 and applies to the immovable property of the taxpayer on 1st January every year. The rates stated below for the IPT are applicable only after separate title deeds are transferred on the names of the contractual purchasers through the Land Registry and not before. The immovable property tax is paid on 30 September each year. There are certain types of properties which are exempt from the IPT. For further details please do not hesitate to contact us.
For the IPT rates please refer to the table below: