The Government of the province of Buenos Aires announced that it plans to raise the real estate rate. What is it and how is its value calculated?
In recent hours there has been much talk about the real estate rate of the Province of Buenos AiresThis is the result of the decision of the governor of that district to raise it by 300% and a great doubt that arises among citizens. But many citizens do not know what it is about. What is going to increase Axel Kicillof?
The real estate rate is he real estate tax and it is a tax that taxes all real property in the different districts and jurisdictions, in this case, it refers to the Province of Buenos Aires, where it is divided into two large branches: urban real estate (built and vacant) and rural real estate.
In short, as can be seen from the above, the real estate tax is charged to the rural and urban real estate existing in each jurisdiction and it is the provincial government that determines the fiscal value of each property on which it is applied.
Thus, the real estate rate is calculated on the tax value of the property, which serves as a reference indicator. Likewise, this unit affects the calculation of the value of lighting, sweeping and cleaning, or general services, or the national tax on personal property.
To calculate how much taxpayers must pay for this tax the tax values of the properties are used, which are the official values determined by the State and are in pesos. These amounts, in general, They have a significant difference with market values.
How much will the real estate tax go up?
for the tax Built Urban Real Estate Tax, the lowest scale of the tax base is from 0 to 1.8 million pesos, which will pay a fixed fee of $1,820. Compared to last year, the lowest range was up to $456,000 and paid a fixed amount of $455.
Meanwhile, the highest level in the tax base is $152 million pesos with a fixed cost of $2.8 million. In the current law, these amounts were $38 million (tax base) and the rate was $700,000.
What will be the increase caps?
- Properties whose tax base corresponding to the year 2024 is up to $5,054,912 They will even have an increase in 140%.
- For properties whose tax base corresponding to the year 2024 is greater than $5,054,912 And till $9,310,820will have an increase of 170%.
- In the case of properties whose tax base corresponding to the year 2024 is higher $9,310,820 And till $31,465,000they will have an advance of 240%.
- In the case of properties whose tax base corresponding to the year 2024 is greater than $31,465,000 And till $121,800,000the rate increase will be 300%
Source: Ambito
