How much are property taxes in Costa Rica?
Property taxes in Costa Rica are relatively low compared to the United States, Canada, or Europe, with a rate of just 0.25% of the declared property value.
As a property owner, it’s your responsibility to update the property’s value every five years with the local municipality. When you submit the necessary application, the value will be adjusted according to the municipality’s assessment procedures.
If you’re selling property and haven’t updated the value, it’s advised to do so for a smoother transaction process.
This tax is managed at the municipal level and can vary depending on factors such as property type and location. Property taxes can be paid either quarterly or annually.