Market Value
Up to CY£100,000
CY£100,001-CY£250,000
CY£250,001-CY£500,000
Over CY£500,000 |
Annual Property Tax
exempt
2.5%
3.5%
4%
|
 |
The estimated value of the property as of 01/01/1980 is likely to be 5%-15% of the current market value.
Or better the current market value is 300%-400% of the value in the 1980's.
i.e. Property bought at present for £200,000 will have been worth at 01/01/1980 £30,000 at the maximum rate of 15%, therefore the property bought at present will be tax exempt.
Most properties, such as villas, houses, apartments will be worth of 1980's prices a lot less than £100.000 and therefore will be tax exempt.
Further to annual Property Tax, everyone owning a property within a complex where there are common facilities, there will be maintenance and service charges to pay. The charges will depend on the size of the complex and what facilities it offers, such as pool, lifts, gardens, tennis courts etc. |
|
 |
