Immovable property tax is imposed on the market value of immovable property as at 1 January 1980 and is calculated on the immovable property owned by the taxpayer on 1 January of each year.
Rates
| Value of Property | Rate | Tax | Cumulative Tax |
| 0 - 120.000 | 0 | 0 | 0 |
| 120.001 - 170.000 | 0,4 | 200 | 200 |
| 170.001 - 300.000 | 0,5 | 650 | 850 |
| 300.001 - 500.000 | 0,6 | 1.200 | 2.050 |
| 500.001 - 800.000 | 0,7 | 2.100 | 4.150 |
| 800.001 and over | 0,8 |
Exemptions
The following properties are exempt from immovable property tax:
- public cemeteries
- churches and other religious buildings
- public hospitals
- schools
- immovable property owned by the Republic, foreign embassies and consulates
- buildings under a preservation order subject to conditions
- buildings of charitable organisations
- agricultural land used for agriculture or animal husbandry by a farmer
- immovable properly situated in inaccessible or depressed areas
- property of a missing person under administration.
