By the A.M. Costa Rica staff
Expat homeowners can save significant amounts of money on municipal
taxes if they file an assessment of value before Dec. 1.
Although current values still are in force, some municipalities are
accepting the new valuations early, according to the Ministerio de
The valuations are good for five years, and by filing early, homeowners
can duck new calculations that threaten to increase the municipal tax
up to 50 percent.
The 2009 tables that provide indexes to value still are valid until
Dec. 1. The 2015 values contain what the ministry calls a considerable
A square meter of land assessed now at 1 million colons might be
assessed under the new table at 1.5 million. The property taxes are
calculated based on the valuations as is the impuesto solidario, the
luxury home tax, the ministry noted.
valuations endure for five years, the homeowner will save
money on municipal taxes and the luxury home tax, if applicable, for
This method to reduce the valuation and then the tax also is possible
for new construction, the ministry noted. That is if the relevant
municipality accepts the early filing.
Homeowners and other property owners are required to state the value of
their real estate once every five years.
Ministry workers have been holding discussions with municipal officials
on how to apply the new tables after Dec. 1
The luxury home tax is assessed on any dwelling and immediate property
that is worth this year more than 122 million colons, about
The tax to be paid is equal to 0.25 percent of the property’s total
value to a maximum tax rate of 0.55 percent since it is a progressive