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property tax


andré
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Hello,

We are presently renting a house on the Caribbean coast, where we feel quite well, and we were thinking about eventually buying a property. We have several offers, one of which is in the "maritime zone", but in the name of a "corporation".

Today we read some kind of horror story about property taxes skyrocketing after the value has been reassessed. Does this mean that this will apply to the all country? At which frequency will those reassessments take place?

Thank you posting more info.

Andre

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Nansie, this is NOT a rumor. Read the articles for yourself at A. M. Costa Rica.com, or in recent issues of the Tico Times. But, to be as sure as anything in CR can be, why don't you contact your builder?

It sounds like Costa Rica is using the Mexico card to "screw" the expat community. I wonder how many Tico are getting their properties re- assesed?

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  • 4 weeks later...
It sounds like Costa Rica is using the Mexico card to "screw" the expat community. I wonder how many Tico are getting their properties re- assesed?

Hi firstly pls ignore the Tico Times which is wrong as usual .It is not Tax we are talking about .The concession land by the beach has no property tax .It is a lease from the municipal government which has always been there . The charges can vary and previously very low as the values were very low .Now just adjustment .Also this concession or leased land has to be owned 51% by a costa rican or Resident of 5years .Lawyers get around this fact by using a corporation when the property is bought where the secretary has 51% of the corporation which is than transferred back to the foreigner . The goverment could insist or check on this . Note also that to transfer the concession you need first permission from the Municipality to do so .Without this the previous owner can just take it back .

Somebody said ask the builder .As if they care or know!!!!.What about asking a lawyer that knows what they are talking about .

I am in Real estate here .

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  • 3 weeks later...

I believe by "skyrocketing" they mean that property will be assessed near its real value instead to the value made up by the owner. Even with that, taxes are dirt cheap. So if you bought a $100,000 property a couple years ago, you may have been able to tell the gov its value was $10k. So your taxes may go up 10x, so maybe $250/year instead of $25. Is that going to hurt. When you buy, just declare the actual sale price as the value and don't sweat at night.

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