2019 ANNUAL CORPORATE AND REAL PROPERTY TAXES

October 30, 2018

PROPERTY TAXES & GARBAGE COLLECTION FEE

As a real property and/or CR corporation owner, you should be aware of taxes that need to be paid annually. Those who do not pay may be subject to fines and judicial collection procedures

PROPERTY TAXES & GARBAGE COLLECTION FEE (Due date: March 31st,  2019)

Real property owners must pay the Impuestos Bienes Inmuebles(Property Tax) and recolección basura(garbage collection fee) to the Municipalidad(Municipal Government) where the real property is located.

The property tax is 0.25% of the registered value of the property, which is either the purchase price paid or the value assigned by the Tax Office. 

unnamed.jpg

The garbage collection fee is a fixed amount, adjusted yearly, that must be collected along with the property taxes. The municipality determines the fee based on location and on whether the property is used for residential or commercial purposes.

The Municipalidad de Santa Cruz does not always charge both in the same statement and this can cause confusion and problems to owners. The municipality has attributed this to “lack of updated records and/or to administrative errors within the system”. Therefore, please review your statement carefully to avoid unpleasant surprises.

This property tax and garbage collection fee can be paid a year in advance or quarterly. However, if paid quarterly, you must pay before the end of each quarter to avoid interest charges. The first quarter of the year ends on March 31stof each year-

Owners must fill out a form to update the value of the real property every five years. Failure to do so can lead to a Municipality assessment and fines. The Municipality is presently requiring property owners to update the value of their properties prior to the last quarter of this year 2018 and first quarter of 2019.

Credits to: GM Attorneys

GM Attorneys is a premium boutique Law Firm with offices in Flamingo Beach, Tamarindo and San Jose.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s