GOVERNMENT LIAISON DETAIL

GOVERNMENT LIAISON DETAIL

This page last updated 06/05/2007

	Detail
06/05/2007	TRNC PARLIAMENT APPROVES INCREASES IN ANNUAL PROPERTY TAX

Parliament has approved an average four fold increase in annual property tax paid by householders.
The Amendment also outlines a from next year a plan to further levy property surcharges of between 10% and 60% according to the value of a property. A committee made up of members of the Union of Municipalities and the İnterior and Finance ministries will put properties into one of four surcharge bands.

The amount of Tax now payable on domestic property of normal construction is now 1 YTL per square Metre with an additional charge of 25% for swimming pools. A modern property of 150 Square Metres will now pay 150 YTL per annum should that house have a swimming pool an additional 25% is payable.

There are reductions of 30% on houses built prior to 1965 and 10% on houses built between 1966 and 1985 also houses built of rustic materials of mud bricks etc are subject to further discounts.

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