Property tax payment experience

Discussion in 'Living in Cancun & Riviera Maya' started by V, Dec 8, 2016.

  1. V

    V I can choose my own title Registered Member

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    This year was my best ever experience with paying the annual property tax (predial) in Cancun. From the time I parked my car till I was getting back in the car with the job completed was just 30 min.

    For those entitled to an age related discount but own their property through a bank trust the process can be a little cumbersome because you must pay in person, rather than online.

    This time I found everything very well organized, with pleasant and courteous employees actively managing the throngs of people and directing the flow of work. It made me smile to see things improving like this.
     
  2. V

    V I can choose my own title Registered Member

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    For those who might be curious, low property taxes are one of the pluses to living/owning here. At current exchange rates the taxes are about 300 USD/100,000 USD evaluation in Cancun.
     
  3. StewKris2000

    StewKris2000 Regular Registered Member

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    I have not logged in in some time, but this is the best news I have heard in a long time! It is 10x this where I live.
     
  4. BVG_Steve

    BVG_Steve Regular Registered Member

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    Strange your taxes are so high, my property taxes were 18,088 MXN or 18,088/20.5 = $882.34 US

    My property value is easily 1.1 million so my property taxes came out to around 80 USD/100,000 USD actual property value.
     
  5. V

    V I can choose my own title Registered Member

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    Hi, Steve! When you speak of 1.1 million are you talking USD, and is that number based on the value as assessed by the tax office, or FMV?

    Just to clarify when I spoke of the amount I pay that is before any age related discounts (50%). Is your reduced as well, based on age?

    Sorry to ask so many questions but it will help to see if we're comparing apples and oranges.
     
  6. BVG_Steve

    BVG_Steve Regular Registered Member

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    V

    I get no discount for age and the 1.1 million is US would be a low side selling value. The propriety is assessed at the original purchase price of 7.6 million pesos. When I purchased the property in 2011 I actual paid less than the 7.6 million but left the valuation there because as it stands now Capital Gains tax is going to cost me a fortune if I ever sell. My neighbor 2 floors up recently sold his unit for 1,180,000 and had to pay a lot to get capital gains reduced, and when he sold i twas only (I say only) 19 pesos to the dollar .
     
  7. V

    V I can choose my own title Registered Member

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    If it depends on me then the discrepancy between what you've been charged and what I've been charged over the years per 100,000 USD of valuation will have to remain a mystery; what I pay is, however, consistent with the charges other owners at this property pay each year.