Taxes

Municipal Real Estate Tax

The Municipal Real Estate Tax is the annual tax imposed by the Municipal Council of every municipality on owners of real estate which falls within the municipal area boundaries under its jurisdiction.

The Municipal Real Estate Tax is payable by the owner of the real estate, at a date to be specified by the Municipal Council during the year in which it is imposed, otherwise a fine is added, equal to the largest rate set by the Republic at the time.

The municipal rate was set, following modifications of the Municipalities Law, at 1.5% of the estimated value of the property. This percentage applies to all Municipalities.