Limassol Municipality: Taxation on Idle Real Estate to Address Abandoned Buildings
Renewed Discussion on Taxing Inactive Properties After Fire Destroys Historical 'Pavlidi' Mansion
The Limassol Municipality is advocating for the reintroduction of discussions on taxing idle real estate as an effective solution to the issue of abandoned buildings, highlighted by the recent fire that destroyed the historical 'Pavlidi' mansion in the city center.
In a statement, the Limassol Municipality mentioned that it had rented the specific building until 2013 for its housing needs and had carried out extensive maintenance work on it.
At the same time, the statement notes that "the interest of the Limassol Municipality in restoring historical buildings in the city has always been strong." The state has adopted specific and substantial measures for the restoration of such buildings, including direct financial incentives, transfer of building coefficient incentives, and favorable tax arrangements for their subsequent use.
"In this context, the Municipality's efforts over the years have led to the restoration of a significant number of historical buildings within the city. Specifically, in the last 10 years, 270 permits (82 of which in the last three years) have been issued for the repair and maintenance of historical buildings in Limassol," the statement adds.
However, despite these measures and ongoing pressure on the owners of historical buildings, some continue to not respond and neglect their restoration. This results in a number of abandoned historical buildings being left to decay and at risk of illegal occupation.
The city's municipal authorities believe that "for a more effective approach to the situation regarding the restoration of abandoned buildings, including historical ones, the discussion on taxing idle real estate property should be revived."
This taxation, in conjunction with the aforementioned incentives, would create conditions that pressure owners to restore their buildings, especially historical ones, preventing them from becoming problematic spots in the city center.
The Municipality notes that it is available to any citizen who wishes to be more informed about these issues, ensuring complete and accurate information.