PuraVida
11/26/2021 07:24 EST
If we buy a home for $240,000 will we have to pay a 'Luxury Home tax' in addition to the annual property taxes?
https://www.crhoy.com/nacionales/asi-se-cobraria-el-impuesto-a-las-casas-de-lujo/
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Kohl
11/26/2021 10:21 EST
Unfortunately for you, yes.
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rodo1234
11/29/2021 05:55 EST
I think you deduct the value of the land first and whats left is the house value to see if you need to pay the tax. I would check with an attorney or accountant as it appears to me you may be under the limit. But things are open to interpretation in Costa Rica
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PuraVida
11/29/2021 08:21 EST
Friends spent 6 months looking for a one-arm lawyer. You make an appt. with a lawyer for $$$ per hour and then after 59 minutes, he/she says, "but then again on the other hand." They didn't find one but found one that was an 'eagle scout'. Seems like you need a Phd. from MIT to understand the convoluted luxury home tax formula. Two essentail things when starting off in CR: honest, reputable lawyer....honest, reputable auto mechanic.
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rodo1234
11/29/2021 08:52 EST
A positive attitude for expats trying to navigate Costa Rican laws and regulations is in my opinion the most important thing needed in order to get started.
Best of luck
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WeOld
11/29/2021 09:49 EST
Like a 'sense of adventure, a sense of humor and a lot of patience.'
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Bruceburke
12/27/2021 16:10 EST
approximately, how much would the luxury tax be on a home valued at 240k?
Thank you
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Bruceburke
12/27/2021 16:10 EST
approximately, how much would the luxury tax be on a home valued at 240k?
Thank you
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WeOld
12/27/2021 16:21 EST
Apparently the first 3 years are lower but on the 4th year it would be @ $600. Best to consult with a knowledgeable attorney and/or accountant.
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Kohl
12/29/2021 10:34 EST
More information regarding the new tax proposal on houses.
https://www-crhoy-com.translate.goog/nacionales/gobierno-concentrara-a-diputados-en-impuesto-a-casas-de-lujo/?_x_tr_sl=es&_x_tr_tl=en&_x_tr_hl=en&_x_tr_pto=sc
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