Property taxes out in the mail at 75% off

Property taxes out in the mail at 75% off

Property tax bills are on their way to 273,000 households for the last time, as there will be no immovable property taxes imposed as of next year.

 

The bills, which include a 75% discount, will begin to reach tax payers as early as Monday.

 

But as of 2017, based on new legislation, there will be no taxation on immovable property.

 

This means legislators have to find ways to balance out lost revenue which is estimated to be around €30 million.

 

It is expected that deep budget cuts will be tabled in the House at the next state budget voting in December.

Source: in-cyprus.com

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