The removal of the property tax for properties destined for single, family and permanent occupation, whose value does not exceed $ 205,332,000. What changes in operations?
Since this month, buyers of their First home in the Autonomous City of Buenos Aires (CABA) They have an important tax exemption: the elimination of Stamps tax For properties for single, family and permanent occupation housing, whose value does not exceed the $ 205,332,000 (approximately U $ S166,000 to the price of the free dollar).
The measure, established in laws 6,805 and 6,806 that update the Fiscal Code and the Porteño tariff law, represents a saving of up to the 3.5% of the property value for those who meet the requirements. This implies, for example, that on a property of $ 200 million, buyers will save $ 7 million for stamps.
However, properties that exceed that amount or acquirers that already have other properties will continue to be subject to this tax. In these cases, the amount is divided between buyer and seller, each paying the 1.75% of the value of the operation.
Impact on the real estate market
In the sector they believe that exemption is a positive step to reactivate the market, especially in the average segment.
This measure is also presented as an incentive to boost real estate operations in the city, especially in a context where mortgage loans begin to play a more relevant role.
While in CABA the standard seals tax aliquot is 3.5%other jurisdictions, such as the province of Buenos Aires, apply lower rates, up to the 2%.
Challenges in implementation and projections
The notaries will be responsible for verifying that buyers meet the legal requirements to access the exemption.
Although the elimination of the tax for certain cases is an advance, analysts agree that broader reforms are needed, such as the review of other taxes linked to the purchase of property and the elimination of cumulative taxes that penalize investments.
In this way, the exemption in CABA is presented as a specific measure to relieve the fiscal burden of those who seek to access their first home, but also opens the debate on the need for more equitable and sustainable tax policies throughout the country.
Source: Ambito
