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Property Taxes, Fees, Rates

· Real Estate Transfer fees are imposed by the Lands Registry in order to transfer FREEHOLD ownership to the name of the purchaser. The transfer fees are due for payment when the transfer of the title deed in the name of the purchaser takes place. The Purchaser is solely responsible for the payment of the transfer fees. The rates are on a graduated scale.

Value of property (€)	Transfer fee rate (%)
up to 85.430,07	3
from 85.430,08 to 170.860,14	5
from 170.860,15 and over	8

· If the property is in joint names e.g. of a couple (husband and wife) or two individuals, then the purchase value is divided into two parts which results in reduced transfer fees. · The following example clearly illustrates this:· For property purchased for € 200.000 in one name, the fees payable are € 9.165,59.

For Property in one name
Up to € 85.430,07	@ 3%	= € 2.562,90
from € 85.430,08 to € 170.860,14	@ 5%	= € 4.271,50
The remaining € 29.139,86	@ 8%	= € 2.331,19
Total fees payable		= € 9.165,59

· For property purchased for € 200.000 in the names of two persons, the fees payable are € 6.582,80.

For property in the names of two persons
First € 85.430,07	@ 3%	= € 2.562,90 (Share of husband)
Second € 85.430,07	@ 3%	= € 2.562,90 (share of wife)
The remaining of First, € 14.569,93	@ 5%	= € 728,50 (Share of husband)
The remaining of Second, € 14.569,93	@ 5%	= € 728,50 (Share of husband)
Total fees payable		= € 6.582,80

Property Taxes, Fees, RatesImmovable Property TaxThe annual immovable property tax is imposed on the market value of the property as at 1st January 1980 and applies to the immovable property owned by the taxpayer on 1st January each year.

Market value of property (1/1/1980)(€)	Annual Property tax (‰)
up to 170.860,14	0
170.860,15 to 427.150,36	2.5
427.150,37 to 854.300,72	3.5
over 854.300,73	4.0