Immovable Property Tax
Immovable Property Tax
Immovable Property Tax payable to the Tax Department
Immovable Property Tax (IPT) was reduced in 2016 to approximately a quarter of that in the previous year and is abolished in 2017.
Property Tax payable to Communities and Municipalities
This ‘local’ property tax has not been abolished and those with property on the island will continue to pay this ‘local’ tax, which is calculated on the Land Registry’s assessment of the 1980 value of the property.