Last minute rush to pay realty taxes

Long lines at the DGI (Directorate General of Revenues) are forming with taxpayers rushing to pay their taxes before the end of the year.

 The end of the year rush is due to the moratorium on property taxes which expires on December 31. The moratorium period began last October with the approval of Law 66, which entails a property tax reform as of 2019.

Yesterday, independent deputy Ana Matilde Gómez told TelemetroReporta that in January she will propose a bill to extend the period of the moratorium since the authorities have not been able to accommodate the large demand and that taxpayers should not pay for the inefficiency of the State.

The DGI enabled a special schedule giving priority to taxpayers who came for the moratorium but canceled it due to the lack of interest. It is estimated that the moratorium will generate between $ 50 million and an additional $ 80 million in revenues this year.

Many think because they are in a condo or have a new house, they are exempt from realty taxes.  If you are in a condo, you are responsible for part of the land the complex is built on, therefore have taxes to be paid on the land, the same applies to a house that is exempt of taxes, please not the exemption applies to the building and not the land. To make sure you do not miss out on this deal, contact your lawyers, they usually can even take care of it, let you know how much you owe and then go to Banco Nacional with your slip and pay the bill. 


*Form DGI - Impuestos de Immuebles - pale blue - available at the counter at the bank