The property tax rate in Cartagena fluctuates between 0.1% and 3.3% of the current assesed value depending on the use of the property and strata where it is located. For example, a commercial space pays 1.5% and an urban lot of land not built pays 3.3%. [The assesed value is the official value that the Colombian state gives to each property].
For real estate units in strata 6 for residential or tourist use, a rate of 0.71% is applied, a tax paid annually in advance. The municipality of Cartagena historically offers discounts of up to 20% for payments made before the last day of February.
The INSTITUTO GEOGRAFICO AGUSTÍN CODAZZI www.igac.gov.co is the state entity that provides geographic information for the entire Colombian territory and is responsible for establishing property appraisals. Normally this cadastral appraisal (or assesed value) is lower, up to 50%, than the commercial value of the property.
If you buy under construction and the cadastral appraisal is still undefined, in the worst case the cadastral appraisal would be equal to the purchase price of your new property.
Example 1: If you bought a used apartment for $480,000,000 col. Pesos but it is assesed at $320,000,000 you would pay $2,272,000 col. pesos (0.71% of $320,000,000) annual tax.
Example 2: You buy an apartment under construction for $550,000,000 col. pesos, of which there is not yet a cadastral appraisal. In the worst case, the appraisal would be equal to the purchase price and you would then pay $3,905,000 col. Pesos (0.71% of $550,000,000) per year in property tax.
All cadastral appraisals are increased annually based on the Colombian IPC index that measures the loss of purchasing power of the Peso according to the inflation of the previous year.
To find out how much the property tax is for each property, visit the Cartagena Mayor's Office website: www.cartagena.gov.co [ventanilla unica][predial] [generacion de factura] enter the cadastral reference number and it will tell you immediately how much it owes.
If you have a bank account in Colombia enabled for internet transactions, you can pay it online, linking directly to your bank through the PSE button.
Legal support: acuerdo 025 of 2016 of the Cartagena District Council.
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