2019 Real Estate Taxes
Wondering what real estate taxes will look like for 2019? Well they have been published, with new rates and forms of collection to be established.
The Ministry of Economy and Finance has issued two decrees regulating Law 66 of 2017, which established the new rates and forms of collection of property tax.
Executive Decree 363 of December 4 establishes the requirements and mechanisms to register a property as a tributary family estate or main residence, a step necessary to obtain the exemption on the first $ 120,000 of the value of the property and better rates for higher values.
Requests can be sent to the Revenue Branch, both in the offices and via the e-Tax 2.0 online system.
At the same time, Executive Decree 362 dated November 29th, assigns the number of agents holding the tax, a function that will be performed by banks and financial entities to retain the tax on property.
Here is thee chart published in the media.