News Column

Land Registry website restored after crash

July 29, 2014

Heavy traffic crashed the Land Registry's webpage for most of Tuesday as thousands simultaneously clicked on the site seeking tax information on their real estate property.

Access to the website was restored late in the afternoon.

Earlier in the day, Land Registry officer Kyriakos Tsolakis said the department had meantime set up telephone hotlines while the glitch was being repaired.

Though recognising the public's keenness to find out how much Immovable Property Tax (IPT) they will be paying this year, Tsolakis said there was no reason to rush, as there was still plenty of time left.

Property owners have six months to appeal the government's evaluation of their real estate and correct any other mistakes made in the process of fixing IPT.

The new property 2013 values have been published on the land registry's website via a special application, where users input their land plot reference number.

These new values will be used for accessing and paying IPT from 2015. This year IPT will be assessed using the old 1980 valuation.

Owners can file an appeal by paying a fee that depends on the value of their property. For properties up to 100,000, owners will be charged 37.5, 75 for properties between 100,001 and 500,000, 150 for properties up to one million euros, and 357 for those over a million euros.

Pending the outcome of the appeal, owners may pay the tax on the amount they deem was correct.

Land registry officer Renos Ioannou said notices will be sent out to property owners in August. The notices will include details and an estimate of the IPT tax.

The deadline to pay this year's IPT is November 30. Taxpayers will get a 15 per cent discount if the IPT is fully paid by October 31. A 10 per cent penalty plus interest and other administrative fees will be charged if IPT is paid after November 30.

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Source: Cyprus Mail

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