The property tax is a municipal tax that all property owners in the country must pay. This tax finances various public services and the maintenance of infrastructure in the respective municipalities. However, there are benefits for specific groups of the population, such as senior citizens, who may be exempt from this payment. Learn how to access this tax benefit and how to calculate the amount of property tax.
The property tax is calculated based on the value of the property and may vary depending on the location and characteristics of the property. Municipalities offer tools to help property owners determine the amount to be paid. In addition, failure to pay the rent property tax may have legal consequences, including the risk of foreclosure of the property.
How can I calculate the property tax on my house?
To determine the amount to be paid for the property taxthe tax rate, which varies by municipality, must be multiplied by the value of the property. It is essential that owners consult local regulations to find out the rate in your area. Failure to pay property tax can result in penalties and surcharges, so it is important to stay up to date with this tax obligation.
Municipalities often provide assistance in their offices to help taxpayers determine the exact amount of property tax. It is important to note that the worth The property’s ownership may change annually, which affects the amount of tax payable.
Property tax rates are progressive and are applied as follows: 0.2% on the value of the property up to 15 UIT (Tax Unit)0.6% for values between 15 and 60 UIT, and 1% for values greater than 60 UIT. For example, if the self-assessed value If your property value is 50 UIT, the first 15 UIT will be taxed at 0.2%, the next 35 UIT at 0.6%, and any value above 60 UIT at 1%.
If I don’t pay property tax, am I at risk of foreclosure?
He breach Failure to pay property tax may result in administrative measures by the municipality. Initially, the municipality will send notices and payment requests to the property owner. If the debts persist, the municipality may initiate enforcement proceedings that culminate in the seizure of the property.
The embargo is an extreme measure and is generally the last resort used by the municipal authoritiesBefore reaching this stage, several opportunities are offered to taxpayers to regularize their situation, including payment plans and discounts for early payment.
Property tax: how does this tax work and what other taxes exist for housing?
He property tax This is an annual tax levied on real estate property, and its revenue is used to finance local public services. This tax is calculated and collected by municipalities, which establish the tax rates and property values. In addition to the property tax, property owners may be subject to other taxes, such as: arbitrationswhich cover specific services such as public cleaning, parks and gardens, and citizen security.
Source: Larepublica
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