grown ups over 60 years old In Peru, they represent a vulnerable group that requires economic support due to lack of employment and other difficulties. One of the most important benefits that the State offers them is the exemption from the property taxan annual tax levied on the value of urban and rural properties.
In 2017, significant changes were introduced to the legislation, allowing people over 60 to pay this tax partially or even be completely exempted. Below, we explain how you can access this benefit.
Property tax exemption: requirements that senior citizens must meet
To access the property tax exemption, senior citizens must meet a series of requirements established by law. Tax lawyer Miguel Carrillo explains that the value of the property must be reduced by 50 UIT (S/247,500) from the self-assessed value. If the value of the property does not exceed 50 UIT (S/247,500), the property value must be reduced by 50 UIT (S/247,500). ITUthe elderly person will not have to pay property tax.
The specific requirements are:
- Be over 60 years old.
- Own only one property.
- The property must be in the name of the individual or the married couple and be used as a home.
- It may be partially used for productive, commercial or professional purposes with municipal approval.
- Gross income must not exceed 1 UIT per month (S/5,150).
How to calculate your property tax?
| Section of the self-assessment | Aliquot |
| Up to 15 UIT (S/24,750) | 0.2 % |
| More than 15 ITU up to 60 ITU | 0.6 % |
| More than 60 ITUs | 1 % |
This is how you can request exemption from property tax
To request exemption from property tax, senior citizens must go to the municipality from your district with the following documents:
- DNI of the owner or legal representative of the property.
- Latest pay stub or other document proving personal or marital income.
- Document proving ownership of the property.
It is essential to meet all the requirements and present the correct documentation to access this benefit without setbacks.
Property tax: who is required to pay?
Property tax in Peru is mandatory for all property owners as of January 1 of each year, whether they are natural persons or legal entities, regardless of whether they live in the property. This tax is paid annually and is based on the value of the property determined by the corresponding municipality, considering factors such as location, use of the property, its age and physical characteristics.
Where are property taxes paid?
Property taxes are paid at the municipal office corresponding to the district or province where the property is located. In Cercado de Lima, payments are made at the offices of the Tax Administration Service (SAT).
What is property tax?
The property tax in Peru is a tax that must be paid by the owners of real estate, including land, homes, buildings and others. properties both urban and rural. This tax, of a municipal nature, is paid annually. Its amount is calculated based on the value of the property, which is established by the corresponding municipality, considering aspects such as location, use of the property, its age and its physical characteristics.
Source: Larepublica
Alia is a professional author and journalist, working at 247 news agency. She writes on various topics from economy news to general interest pieces, providing readers with relevant and informative content. With years of experience, she brings a unique perspective and in-depth analysis to her work.
