Colombia. If you are the owner or administrator of one of the 2,415,980 properties in Bogotá, keep in mind that from 2017 your property tax will be settled based on the cadastral appraisal, without taking into account the socioeconomic stratum to which your property belongs, and that you can pay in installments if you so decide.
As revealed by the local newspaper El Tiempo, the Finance Commission of the Council approved, with ten votes in favor and three against, the positive presentation joint with the proposal of the Mayor's Office to eliminate the strata when settling the tax and established a table of 33 ranges that begins in the properties with a cadastral appraisal of 93,076,000 pesos, which will have a fee of 6 per thousand, and ends in properties of more than 2,500 million pesos, with a fee of 11 per thousand.
The appraisals in the table will be updated every year based on the new housing price index (IPVN) of the National Administrative Department of Statistics (Dane). And to prevent the value of the annual tax from skyrocketing due to the effects of the increase in cadastral appraisals, the Council established that the tax on residential properties of homes up to $ 230,965,750 will be between 15 and 18 percent for homes up to $ 310,252,500 and up to 20 percent for those above that appraisal. 25 percent will apply to non-residential properties.
The speakers Juan Felipe Grillo Carrasco, Pedro Julián López Sierra and Rolando González found that with the 20 percent cap on all residential properties, within five years the taxpayer's tax would double, which would make the property more expensive.
The Council, on the initiative of the Mayor's Office, decided to maintain a special rate for properties considered of social or priority interest, with cadastral appraisal less than 135 minimum monthly wages ($ 93,076,000) and belonging to strata 1, 2 and 3, which will range between 1 and 4 per thousand. For these properties it was established that the annual tax increase will be 10 percent.
