Mexico Property Taxes
Thomas Lloyd No Comments

When you purchased your property, it became clear that closing costs are higher in Mexico than in the United States and Canada. Mexico collects most of its taxes from the transfer of property. Property taxes (Impuesto Predial) are meager in comparison 

with its Northern neighbors.

How can you calculate property taxes?

The rate will vary slightly from one location to another. Still, you can expect to pay approximately $250 per $100,000 dollar property value. There are some small variances based on the community services provided. 

Mexico Property Taxes

Bank Trust Fees

Do not confuse the payment of property taxes with paying the maintenance fee or annual fee for your Bank Trust (Fideicomiso). This is a fee charged by the bank for maintaining your bank trust and does not provide revenue to the local municipality. This fee is charged on an annual basis and coincides with the anniversary of your purchase. 

When are they due?

Taxes are calculated in the first two months of the year. Sometime in November, notifications are delivered to the property. If you do not receive them, you will have to go to the municipality and request them. You will need to take your Clave Catastral number, which can be found on a previous tax statement. You should have received a copy of the previous taxes at your closing.

Mexico Property Taxes

Take advantage of the discounts!

There are substantial discounts offered for paying the property taxes in full a vary depending on how early. Quintana Roo offers a discount of 20% if paid in December. Senior citizens can also receive up to 50% discount on their property taxes. 

Penalties

Just as there are discounts for early payment, there are penalties for a late penalty. Although property taxes are meager, penalties are compounded based on the delay of payment. They can significantly raise the amount you pay.

Where do I pay?

Taxes can be paid at the Municipal Building in your community, and many states now offer online payments with a credit card; check these links below.

Playa del Carmen – https://gobiernodesolidaridad.gob.mx/impuesto-predial

Cancun – https://ingresos.cancun.gob.mx/predial/

Tulum – http://www.tulum.gob.mx/Tesoreria/pagosenlinea

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