In January, all citizens receive the coupon book at home, which is the sworn declaration of the property tax and municipal taxes with our data and those of the property, as well as what we have to pay. However, the question arises as to who receives the payment if the property is transferred or if the elderly have any benefits. Here we clarify it.
What is property tax and what is it for?
It is the tax whose collection, administration and supervision corresponds to the district municipality where the property is located. This tax taxes the value of urban and rural properties based on their self-valuation, according to the SAT.
Furthermore, these resources go directly to finance the district municipalities that are in charge of developing the urban plans and the city’s cadastral projects, he points out. Jan Carlo Sandoval, associate lawyer at Miguel Mur Abogados. “Together with the taxes, they make up the main income of the municipality. It allows them to develop a more orderly and clean district, as well as safe,” he said.
Who is obliged to pay this tax?
According to the Municipal Taxation Law DL776, natural or legal persons who own land, houses, apartments, offices, buildings and constructions are responsible for this annual tax. The obligation to make this payment falls on the citizen who appears as the owner of the property on January 1 of each year, so if the property is sold, the new owner must pay the following year.
This tax can be paid in cash until the last business day of February 2024. But if it is decided to split, to honor this obligation, Sandoval says, the payment can be made in four equal installments in February, April, August and November.
What is self-assessment and what is it for?
It is the updated value of the property, less depreciation if applicable, explains the Lima Chamber of Commerce (CCL). Here, the district municipalities, guided as a basis by the values of the buildings, tariff values of the land and the depreciation table, have to prepare the coupon boxes which contains the updated value of the properties owned by the taxpayer in their respective jurisdiction.
The tax scale will be applied to this self-valuation (see infographic), considering the ITU for the year 2024 (S/5,150), in order to obtain the annual tax to pay for the property(s). They must appear in the respective coupon book, says the CCL.
Are there payment facilities for older adults?
Sandoval maintains that pensioners or non-pensioner older adults of a single property intended for housing and who have income or pension of a maximum of 1 UIT have the right to deduct from the self-assessment the amount equivalent to 50 UIT (S/257,500) and must pay the property tax only for the excess of this amount.
To access this discount, the lawyer details, the user who meets the requirements must fill out the application form provided by the SAT or the revenue area of the district municipality. As well as providing documents that prove the status of pensioner or not, and the last pension or income payment receipt.
Who is unaffected?
The current regulations indicate that The properties owned by subjects such as the central government will be unaffected by the property tax, Regional governments and local governments; foreign governments, under conditions of reciprocity, provided that the property is used as the residence of their diplomatic representatives or for the operation of offices dependent on their embassies; charitable societies (provided they do not carry out commercial activities); religious entities that have temples, convents, monasteries and museums; he General Body of Firefightersthe peasant and native communities of the mountains and jungle, among others.
Source: Larepublica
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