1. Property Taxes in Mexico
Property Taxes for Mexico Real Estate are called Impuesto Predial. Property tax ranges from .0275% to 1.350% depending on the zone where the property is located. You can identify the Tax Rate by looking at your property tax bill.
2. Property Taxes in Rosarito Beach
In the municipality of Rosarito Beach, as of 2015, the tax rate is .171%. Additionally, the municipality includes in your annual property tax two “contributions” which are charged to each property owner. One is your annual tax amount multiplied by 15% which goes towards improvements in athletics and the other is a 10% contribution towards DIF which is a government department that assists with family programs, family adoptions and other social programs for the municipality.
Your annual tax rate along with the two contribution amounts totals the amount of your annual property taxes in Rosarito Beach. If you’ve been late in paying previous year’s bills, those fees will be added onto your tax bill after these calculations.
3. When are Property Taxes Due in Rosarito Beach?
Property Taxes in Rosarito Beach are due in January for that calendar year. You need to go to the Municipality, or an approved satellite office, to get a copy of the bill, or if you already have a copy these are the offices where you can go to pay for it. Don’t expect the tax bill to come in the mail or attached in an email. 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. There is bill paying services that can help you take care of this task every year.
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4. One of many benefits of buying Real Estate in Mexico
One of the greatest benefits of buying Mexican real estate is the low property taxes that are charged here. This can not be understated and is a major factor for most of our clients in choosing Mexico as their place for retirement or their second home.
For example, that means on a $350,000 property you could have an annual property tax as low as $96.25.
This is a giant saving when compared to the United States. Yes, your closing costs are higher in Mexico than they are in the United States but you will definitely make that up in the long run with such low property taxes. This is an important key when you are factoring in the total cost of living in Mexico compared to the United States. By keeping the property taxes so low, Mexico is encouraging property ownership not only to Mexican citizens but to foreign buyers as well.