Pay property? Know everything about the property tax of your home

Have you just bought a home for the first
time? Know what the property tax of a house is for and everything related
to this payment.

The property tax is a charge that must be
paid by any owner of a property, regardless of the use that is given, be it
commercial, residential or industrial premises.

All countries that belong to the
Organization for Economic Cooperation and Development (OECD) must pay this tax,
likewise, it is maintained that all property owners must contribute an annual
fee to the State.

We invite you to know everything about the
property tax and why it is so important to cover the fee if you are a
homeowner.

Find out what the property tax of a house
is for

Why is the property tax collected?When is the property tax collected?How is the property tax calculation performed?Where can you pay the property tax?

Why is the property tax collected?

The property of a house is collected to be
used in public services and infrastructure of the municipality where the
property is located.

The main function of the property tax is to
generate resources so that the municipal government can provide services at the
local level, such as public lighting, paving, garbage collection, etc.

When the owners stop paying the property of
a house, office or premises, public services are harmed, and for this, there
are areas that lack lighting and paving in their streets.

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When is the property tax collected?

In Mexico, the property tax of a house is
calculated and collected annually, during the first two months of the year.

Likewise, each State applies different forms
and fiscal benefits to collect the tax. Therefore, there is the
possibility of covering the payment bimonthly, with the exception of taxpayers
who contribute a minimum quota (retirees, pensioners and the elderly ).

We advise you to pay the property tax
during January or February, since it is very common for discounts to be
applied. In addition, if there are surcharges for non-payment from
previous years, they also offer discounts to encourage the population to pay
off their debts.

How is the property tax calculation
performed?

The property tax is calculated taking as a
reference the cadastral value of a house , which uses aspects
such as location, size and type of land.

Land value calculation

The location of the property is used to
calculate the value of the land. There are three types of land value:

Value area: these are
properties that are located in a group of houses in the same lot or area
and have similar characteristics in their infrastructure or in public
services, they can be condominiums, single-family houses, commercial
premises, etc.Enclave of value: they are
properties that are different in value and characteristics that are
located in the same area.Value broker: these are
properties that are located on a main or very busy avenue or road.

Construction value calculation

After carrying out the calculation of the
land value , the construction appraisal is
requested to calculate the property tax of a house. Based on the
following factors:

Type of property (residential, commercial, industrial, etc.).Number of floors of the property and of the construction in
general.The land's surface.Construction size.Age of the property.

According to the data obtained from both
calculations, the Income Law of the municipality where you live should be reviewed,
which is a list of rates or fees to make the payment for: square meters of the
property, area and type of construction, topographic conditions, equipment and
public services.

Where can you pay the property tax?

Finally, the property tax payment for a house
can be made in the Cadastre offices or in the Treasury Offices of your city.

Likewise, it can also be paid at banking
institutions (directly at the counter or by electronic transfer), authorized
department and convenience stores, or via the internet at the official website
of the City Council of your municipality.

Paying a property's property on time
guarantees discounts and you will be avoiding paying fines or interest for not
complying with your obligations as a taxpayer.

Are you looking for remodeling or
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