Collection of property rates
Reykjavík City’s Department of Finance and Risk Management is responsible for the imposition, billing, and primary collection of property rates.
Due dates
Property rates for the year 2024, over 25,000 kr., are paid in eleven equal payments on the payment dates, January 31, March 3, April 2, May 4, June 1, July 2, August 3, September 1, October 2, November 2, and December 3
The due date for property rates amounting to less than 25,000 kr. is January 31.
Final due date
The final due date of property rates is 30 days after the due date, and late interest is calculated from the due date. Late interest is calculated from the due date if the fees are not paid by the final due date. If the final due date is on a bank holiday, the claim must be paid before 9pm on the last day the bank is open in order to avoid payment of late interest.
Arrears
A collection warning is sent out 10 days after the final due date and payers are given the opportunity to pay the claim so that it is possible to avoid secondary and statutory debt collection of the fees, which involves increased costs for payers.
Claims that are in arrears 55 days from the due date are sent to Inkasso Momentum for secondary debt collection. At the end of the year, property rates that are still in arrears are sent to Gjaldheimtan for statutory debt collection.
Payment slips
Payment slips for property rates are not sent out to payers born in 1943 or later unless specifically requested. You can request a payment slip through Reykjavík City's My Pages, by phone at 411 1111 and by email at upplysingar@reykjavik.is.
The property rates are charged through online banks, you can also set up payments by credit card or direct debit through your bank.
Credit card payments
It is simple and convenient to pay property rates by credit card. The property rates are automatically debited from your credit card. On On My Pages, holders of Mastercard and Visa credit cards can register property rates for direct debits. Claims past their due date cannot be payed by credit card.
If a credit card payment is not approved when it is processed by the bank, you will not be able to try again to get it approved. A claim for the unpaid amount will be collected through the bank.
Direct debit
Most banks offer their customers the option to use direct debit for payments such as property rates. Payers of property rates are advised to contact their commercial bank to set up direct debit.
Changes to payers
Claims that have not been issued for property rates can be transferred to a co-owner of the property. To do this, the co-owner must request a change of payer by sending an email to fasteignagjold@reykjavik.is. The payer can only be changed for claims that have not been issued. Please note that the owner of the property is still responsible for paying the property rates.
The City of Reykjavík's Department of Finance and Risk Management provides information on the assessment of property rates and changes to them by phone at or by email to fasteignagjold@reykjavik.is.
Please note that owners can access assessment notices on the City's My Pages or Ísland.is.
Assessment and amendment notices are not mailed out due to an amendment made to Act No. 4/1995 that went into effect on January 1, 2019, allowing municipalities to deliver assessments for property tax electronically.