Real Estate Property Tax of Costa Rica – Exemption
In accordance with the Law of Taxes on Real Estate and its Regulations, this tax was established for the sake of the local government where it is kept localized. This tax has a rate of 0.25% of the registered value.
In those cases in which the property is the “only property” of the passive subject (the owner of the real estate that must pay the tax), and if it is not included as part of a company, then it is exempt up to ¢12,141,000.00 (twelve million, one hundred and forty-one thousand colones net). This value is fixed according to the law to the equivalent of 45 base salaries, the base salary being fixed at the sum of ¢269,800.00 (two hundred sixty nine thousand, eight hundred colones net). This is in accordance with the resolution made by the Technical Normalization Agency of the General Headship of Taxation, Resolution #01-2009 – San Jose, at ten o’clock of the 15th of January of 2009. Published in La Gaceta #28 of the 10th of February of 2009.
In those cases where the value of the property is above this amount, the tax will be paid on the part that is in excess of the amount.