The Costa Rica Luxury Home Tax will be due again in 2014. In this article I am setting forth all the links to the valuation maps and forms that you will need to determine your property value and pay the tax.
For 2014 the threshold is 121,000,000 Colones which is $245,000 at current exchange rates. As such, if the value of your building structures not including the land falls below $245,000 the property would be exempt from the luxury tax. If the building structures located on the property are greater than $245,000 then you must include the land in the calculation as well to determine the final tax.
Here is the sliding scale for 2014:
The Luxury Home Tax Rates:
US$ 245,000 to $610,000 = 0.25%
$610,000 to $1,225,000 = 0.30%
$1,225,000 to $1,836,000 = 0.35%
$1,836,000 to $2,448,275 = 0.40%
$2,448,275 to $3,058,824 = 0.45%
$3,058,824 to $3,675,456 = 0.50%
above $3,675,456 = 0.55%
The easiest way to establish the value of your structures and land valuation is to download the free software program developed by the Ministry of the Treasury for this purpose. The software is in Spanish so you will need a basic understanding of spanish in addition to some technical knowledge to install the software. If you are lacking in either then I recommend you hire the services of an appraiser that specializes in luxury tax calculations to do it for you.
To download the software from the Ministry of the Treasury click on the following link: Impuesto Solidario Calculo 2014
You can watch a video which summarizes the calculation of the luxury home tax: Luxury Home Tax Video
To determine the value of your land you must use the appraisal valuation maps done by the Ministry of the Treasury Appraisal office. Those maps are available at the website of the MInistry of the Treasury at the following link :http://dgt.hacienda.go.cr/tiposimpuestos/Paginas/Impuestosolidario.aspx
The maps are also available on the CostaRicaLaw website at the following link: Costa Rica Land Valuation Maps
With the links provided above you should have sufficient tools to understand the basics of the luxury home tax.
