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CYPRUS
PROPERTY USEFUL INFORMATION
Mortgage interest and property taxes are
deductible on a second home if you itemize.
Check with your tax advisor for specifics.
You have several ways to determine a value
of a home.
• An appraisal is a professional estimate of
a property’s market value, based on recent
sales of comparable properties, location,
square footage and co service varies in cost
depending on the price of the home. On
average, an appraisal costs $300 for a
$250,000 house.
• A comparative market analysis is an
informal estimate of market value performed
by a real estate agent based on similar
sales and property attributes and analysis
in the hopes of winning your business.
• You also can get a comparable sales report
for a fee from private companies that
specialize in real estate data of find
comparable sales information attained from
estate agent internet sites.
Property taxes on all real estate, including
those levied by state and local governments
and school districts, are fully deductible
against current income.
CYPRUS
Capital Gains Tax and Tax Issues
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