Taxes

Municipal Real Estate Tax

Municipal Real Estate Tax is the annual tax levied by the Municipal Council of each Municipality to owners of real property which is within the municipal boundaries under its jurisdiction.

The Municipal Real Estate Tax shall be due from the owner of the property at a date to be determined by the Municipal Council during the year with in which has been imposed, otherwise a charge is added, equal to the current maximum rate in the Republic.

The municipal rate was set by amending the Municipal Law and the rate is 1.5 % on the assessed property value. This rate applies to all municipalities.