Expat Community > Colombia

soystar1
Joined 2012
Posts: 504

6 years ago

FYI on real estate taxes

6 years ago

So, I finally was able to obtain my paperwork by bugging my builder. As you might guess, I had to do some legwork. Another oops moment, as they knew the process to obtain my deed but just didn't inform me. (no accountability).

Apparently in Colombia, not only do you have to pay taxes on your new apto but you will also have to pay taxes on your garage and parking stall. Here in Armenia you have until March 28 to pay your tax bill and get a 15% discount off the total tax bill. Not bad. I should note that in Armenia home owners must also pay a tax for the fire department service. At this time, firefighters are not paid but are a voluntary service.

With estrato 6, it also brings upon the buyer higher utilities e.g. costs of water, and energy etc... I now know why the average Colombiano can not afford decent housing.

Anyways, what I learnt from buying a new apt in a new construction is that you have to be physically present to see how the work is going and what materials are being used. One example is that what you would expect that the an obvious sound dampening be in place when installing drywall. This is not the case. Your future neighbors noise issues will conflict with your peace and quiet. When queried, it will be the same lame excuse, you didn't say anything or this is an added cost. No kidding! Keep on them.

Next: keep all your payment receipts. For some reason, some accountants here can't add or sum up numbers correctly.

Furthermore, be the squeaky chain that needs constant oil. Hammer them with contract specific questions. Just keep your buyer's contract handy and show them what is written when conflict occurs between what is written and what is being done.

So, the builder's accountant hands me a post it note (no kidding) listing the four things that I must obtain to get my deed (my apt is paid off) and perhaps, this info might help you also:

1. Marticula (registration).
2. Copy of the apt's taxes being paid, paz y salvo (up to date, paid off) and current value.
3. A copy of cedula.
4. Last payment of admin costs of apt that lists paz y salvo.

Luckily, Armenia is a small city so traveling to and fro is not so complicated to obtain the required docs.

Good luck!

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Expat Community > Colombia

FYI on real estate taxes