Property Tax 2014?
- Thread starter MIRAMAR
- Start date
It's about the same for me
Paid Taxes last week; Federal Zone and City. Mine went up about 1%.
PintoPoint
Guest
This was and interesting artical I found.
11.18.2011
Property Taxes (IMPUESTO PREDIAL) in Mexico
Categories: Taxes
How do you calculate the annual property taxes in Mexico? Although the tax is very small, I’m providing this information to show how different the system is here in Mexico when compared to the United States. Also because in the US it’s possible to identify the sales price of a property if you know the tax amount and the tax rate. However in Mexico it’s very different and therefore is not a number that will help you calculate the previous sales price of the property. Below I’ll explain in detail how the Annual Property Taxes are calculated and my example is using real estate in the municipality of Rosarito Beach which is in the State of Baja California.
• First find out the Zone where your specific property resides. You can do this by looking at your property tax bill or any bill for a property in the same neighborhood. Then find out the fiscal rate for that zone. This will also show in the bill or can be searched online through the State Government’s website. The fiscal rate is obtain by the government looking at the values of transactions in that specific zone over the past year.
Then you simply multiply the square meters of the property by the fiscal rate. Next, take the result and multiply it by the annual tax rate which is specified by the government each year. The result of that amount is your annual property tax. However in the municipality of Rosarito Beach there are two additional “contributions” which are charged to each property owner. You will multiply your annual tax amount by 15% as a contribution towards improvements in athletics and also multiply your annual tax amount by 10% as a contribution towards DIF which is a government department that assists with family programs, such as meals for school children, family adoptions and other social programs in the municipality. Then you will add the annual tax rate with the two contribution amounts and that total amount will equal your annual property taxes in Mexico. If you’ve been late in paying previous years bills, those fees will be added onto your tax bill after these calculations.
• Example (All calculations are in PESOS):
o (Sq. Mts. x Fiscal Value) x (Annual Tax Rate) = Annual Property Tax + (15% of APT) + (10% of APT)
o A Condominium in the Development of Club Marena
Club Marena = Zone 169 which has a Fiscal Value of $5,500/Sq. Meter
o The square meters of the property is 186
o (186 x $5,500) x (.159%) = $1,626.57 + $243.98 + $162.65 = $2,033.20 PESOS
o To convert to US Dollars I’ll use an exchange rate of 13 to 1
o $2,033.20 / 13 = $156.4 USD / Year
This tax is due in January of each year and please don’t expect to receive an email with your bill attached. As a property owner you have the obligation to pay your property taxes each year. Payments in January will receive a 10% discount and if they’re not paid by March there will be penalties and late fees added onto the tax.
I hope this information helped to clarify how Annual Property Taxes are calculated in Mexico and how you are not able to use this information to calculate the sales price of a specific property. More transparency is needed in Mexico to help foreign investors better understand the current market conditions.
11.18.2011
Property Taxes (IMPUESTO PREDIAL) in Mexico
Categories: Taxes
How do you calculate the annual property taxes in Mexico? Although the tax is very small, I’m providing this information to show how different the system is here in Mexico when compared to the United States. Also because in the US it’s possible to identify the sales price of a property if you know the tax amount and the tax rate. However in Mexico it’s very different and therefore is not a number that will help you calculate the previous sales price of the property. Below I’ll explain in detail how the Annual Property Taxes are calculated and my example is using real estate in the municipality of Rosarito Beach which is in the State of Baja California.• First find out the Zone where your specific property resides. You can do this by looking at your property tax bill or any bill for a property in the same neighborhood. Then find out the fiscal rate for that zone. This will also show in the bill or can be searched online through the State Government’s website. The fiscal rate is obtain by the government looking at the values of transactions in that specific zone over the past year.
Then you simply multiply the square meters of the property by the fiscal rate. Next, take the result and multiply it by the annual tax rate which is specified by the government each year. The result of that amount is your annual property tax. However in the municipality of Rosarito Beach there are two additional “contributions” which are charged to each property owner. You will multiply your annual tax amount by 15% as a contribution towards improvements in athletics and also multiply your annual tax amount by 10% as a contribution towards DIF which is a government department that assists with family programs, such as meals for school children, family adoptions and other social programs in the municipality. Then you will add the annual tax rate with the two contribution amounts and that total amount will equal your annual property taxes in Mexico. If you’ve been late in paying previous years bills, those fees will be added onto your tax bill after these calculations.
• Example (All calculations are in PESOS):
o (Sq. Mts. x Fiscal Value) x (Annual Tax Rate) = Annual Property Tax + (15% of APT) + (10% of APT)
o A Condominium in the Development of Club Marena
Club Marena = Zone 169 which has a Fiscal Value of $5,500/Sq. Meter
o The square meters of the property is 186
o (186 x $5,500) x (.159%) = $1,626.57 + $243.98 + $162.65 = $2,033.20 PESOS
o To convert to US Dollars I’ll use an exchange rate of 13 to 1
o $2,033.20 / 13 = $156.4 USD / Year
This tax is due in January of each year and please don’t expect to receive an email with your bill attached. As a property owner you have the obligation to pay your property taxes each year. Payments in January will receive a 10% discount and if they’re not paid by March there will be penalties and late fees added onto the tax.
I hope this information helped to clarify how Annual Property Taxes are calculated in Mexico and how you are not able to use this information to calculate the sales price of a specific property. More transparency is needed in Mexico to help foreign investors better understand the current market conditions.
PintoPoint
Guest
End of Febuary
dirtsurfer
Guest
Can you pay the Federal Zone taxes along with the city taxes at the same time?
I always have paid the Federal Zone at the same time as the City Tax.
P.S. The Tax Office has moved. Sorry, been going to RP for 45 years, I do not know the Street names. Head North on the main drag, turn right (East) on the first street North of the train tracks. About a block down on the South side of the road. Take a number to pay taxes. If you are paying your Federal Zone, first go to the 4th (?) window to get your invoice; Mario's admin was at that window.
P.P.S. Loved the old Playa Hermosa sign photo. We would stay/camp there in the 60's. Loved the comment on taking a shower in the water truck leaks ! Great memories.
Is there a way to find and pay the property taxes online? A couple of years ago I tried to pay them early and was able to request a copy of my bill be e-mailed to me. The link he gave me no longer works. I was able to find the new City website on the Twin Dolphins website. But I'm not finding the equivalent links on the new website. I assume this is because it is a different administration.
The current website is:
http://www.puertopenasco.gob.mx/index.php
(The previous one had "sonora" in the name.) From there I was to click on "TRAMITES Y SERVICIOS" then "TRAMITES EN LINEA" then "PREDIO" and finally "ESTADO DE CUENTA." You would then put in your Tax Code (clave) and download the statement. I've looked through the new website and cannot find anything remotely equivalent.
We are no longer using a bill paying service because we thought we had figured out how to pay all our own bills. Any assistance for how to find and pay our property tax bill is appreciated.
The current website is:
http://www.puertopenasco.gob.mx/index.php
(The previous one had "sonora" in the name.) From there I was to click on "TRAMITES Y SERVICIOS" then "TRAMITES EN LINEA" then "PREDIO" and finally "ESTADO DE CUENTA." You would then put in your Tax Code (clave) and download the statement. I've looked through the new website and cannot find anything remotely equivalent.
We are no longer using a bill paying service because we thought we had figured out how to pay all our own bills. Any assistance for how to find and pay our property tax bill is appreciated.
Taxes for 2014: exchange rate today 01/24/2014 peso 13.43/U.S. Dollar. Good time to pay taxes now before peso swings the other way.
Caveate/ check with tax office before stepping up to the desk, as I have experience, in the past, that the city sometimes creates their own exchange rate in their favor!
Gup
brokenwave
Guest
Are the tax rate higher or lower for 2014? Just curious. Have to pay mine next trip down.
brokenwave
Guest
Thanks, I can live with that.