In Costa Rica the tax applicable to those who have purchased properties may vary depending on the structure they have used to purchase. However, normally the following information should suffice to clarify what properties are due, when and how to pay each and explain the percentages applicable. At www.arturoblancolaw.com you should find enough information to assist you in this matter. Also the expertise of our tax department may clarify in detail and assist you when formal challenge is to be filed before local authorities and you can contact us at firstname.lastname@example.org or email@example.com
THE PROPERTY TAXES:
This tax is to be collected by each Municipality and taxes the ownership of land. The value of the land encompasses the two portions that may affect the value: land and infrastructure. This tax is applicable to both rural and urban dwellings of either private or commercial use.
The tax is applicable on a yearly basis and in most cases payable per quarter (or a lump sum at the beginning of the year).
The yearly tax is the equivalent of 0.25% of the value of the property. This value is declared via an affidavit at the municipality by the owner but, may not be below the current recorded value or the Value Guidelines that the Central Government has established. The declared value remains in place for 5 years after which a new affidavit is to be filled.