Those who do not pay by the deadline date will be fined based on the amount of the tax.
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Published Monday, January  4, 2021

Jan. 15 deadline to pay
luxury house tax

By the A.M. Costa Rica staff

The Solidarity Tax for the Strengthening of Housing Programs, known as luxury homes tax, is already being collected.

According to the Ministry of Finance, the tax must be paid before Jan. 15 by the owners of all properties with a value of over 133 million colones, approximately $216,895.

The solidarity tax is levied on the value of the residential real estate, used on a regular, occasional or recreational basis, including under construction, fixed and permanent installations.
 
Every three years, an affidavit should also be presented declaring the updated fiscal value of the real estate. If it exceeds the value recorded by the administration, the new declared value automatically modifies the applicable tax base for the fiscal period in which it is declared, the ministry said.
 
When the property belongs to several co-owners, they must declare it jointly.
 
The owner of two or more adjoining or overlapping properties must accumulate them in a single declaration for the tax, the ministry said.

In the condominium property system, the declaration of each condominium must include the proportional value that belongs to it of the common areas.
 
In case of transfer of ownership of the real estate, the new owner will be jointly liable for the tax payment of the fiscal period enforced at the date of acquisition, as well as the interest, according to the current rules.
 
The amount to be paid is calculated by the Tax Administration Department, based on a table with a range of amounts, that applies according to the value of the property. But those who do not pay by the deadline date will be fined based on the amount of the tax.
 
Inquiries about the value of the tax can be made at the Ministry of Finance lines (506) 2539-4647 or (506) 2284-5000.


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Have you heard of overcharges on luxury home tax in your community? We would like to know your thoughts on this story. Send your comments to news@amcostarica.com






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