How much will I pay in real estate or property tax in Belize
Boris Mannsfeld - Boris Mannsfeld & Associates
The amount you have to pay for property or real estate tax in Belize is extremely low, which makes the overall cost of owning real estate much lower in Belize than in other countries or jurisdictions. For example, the property tax on a US $200,000 plot of land would be around $12 - $300 / year. (Yes, you read that right.)
The amount you have to pay for property or real estate tax in Belize is extremely low, which makes the overall cost of owning real estate much lower in Belize than in other countries or jurisdictions. For example, the property tax on a US $200,000 plot of land would be around $12 - $300 / year. (Yes, you read that right.)
Posted December 5, 2014
Macarena Rose - Rainforerst Realty
Real estate taxes in Belize are much lower than people are used to in the North Americas, for sure. For example, we have a 50 acre resort for sale on the river, and their annual taxes are US $200 a year.
Also, we have a home lot that just sold, and the annual property taxes are $12 a year. WOW !! The new owner paid 10 years in advance!
Real estate taxes in Belize are much lower than people are used to in the North Americas, for sure. For example, we have a 50 acre resort for sale on the river, and their annual taxes are US $200 a year.
Also, we have a home lot that just sold, and the annual property taxes are $12 a year. WOW !! The new owner paid 10 years in advance!
Posted January 28, 2015
Archibald Brown - RE/MAX Belize Property Center
Property taxes in Belize are very low. Belize property taxes are usually assessed at 1% of the value of the property in rural areas and, in the towns and cities, these are assessed at around 7% of the value per year. However, the assessed value is generally MUCH lower than what you would expect to pay.
For example, we have lots for sale priced at $21,000 USD, so you would expect the property tax of 1% to be $210 USD. However,...
Property taxes in Belize are very low. Belize property taxes are usually assessed at 1% of the value of the property in rural areas and, in the towns and cities, these are assessed at around 7% of the value per year. However, the assessed value is generally MUCH lower than what you would expect to pay.
For example, we have lots for sale priced at $21,000 USD, so you would expect the property tax of 1% to be $210 USD. However, the annual property taxes on these lots are $7.50 USD per year which is not even 1/3 of .1% of the value of the property. Owners can opt to pay many years in advance, if they so choose. In the city we have a lot for $50,000 USD and property taxes are only $300 USD per year (.6%).
Posted March 20, 2015
Bentley Wildman - Consejo Shores
Before I discuss how much you will pay in property taxes in Belize, I’ll discuss all the other related taxes, which depends on who's selling the property and where it's coming from. If you’re buying from a company like us, there's a 5% land transfer fee paid by the buyer, so 5% of the value of the property goes to the government as a tax. Most real estate agents charge between 7% to 10% of the value of the property, which is generally paid by the...Before I discuss how much you will pay in property taxes in Belize, I’ll discuss all the other related taxes, which depends on who's selling the property and where it's coming from. If you’re buying from a company like us, there's a 5% land transfer fee paid by the buyer, so 5% of the value of the property goes to the government as a tax. Most real estate agents charge between 7% to 10% of the value of the property, which is generally paid by the seller. Lawyers charge 2.5% to do the transfer paperwork. If you choose to use a paralegal instead of a lawyer, they may only charge you US $500. There are other taxes involved. But the taxes have to do with the company that you're dealing with. For example, being a company, we have to pay a GST of 12.5%, which is included in the price of our offerings, but if you're buying something from someone privately they don't have to pay that. We have to pay that because we're an organized subdivision. Yearly property taxes are very, very low in Belize. In Consejo Shores they run about Belize $50 (US $25) a year for a house, bare property, or a mansion. Right now there's no qualification for that. In the towns, it's a little more than that and they're starting to charge for things like if you got a second floor or third floor but it's still nothing like in the US or Canada. As a point of reference, my lot is about 300 feet from the sea and I pay Belize $23 a year (US $11.50).
(Pictured: Corozol Town, Belize, as viewed from the sea.)
Posted July 19, 2015
Arianna Perez
Property taxes are very low in Belize. It depends what you have on your property. If you have a mansion, you are going to be paying some expensive property taxes, but not much for a 3-bedroom, 2-bathroom house. The amount of property tax also depends on the area. In Belize City, I would say for a 2-story building, it's about Bze $800 - $1,000 a year (US $400 - $500).
Taxes for lots with no...
Property taxes are very low in Belize. It depends what you have on your property. If you have a mansion, you are going to be paying some expensive property taxes, but not much for a 3-bedroom, 2-bathroom house. The amount of property tax also depends on the area. In Belize City, I would say for a 2-story building, it's about Bze $800 - $1,000 a year (US $400 - $500).
Taxes for lots with no structure are less. If it's worth $100,000 and then you will pay about Bze $120 (US $60). They just revised everything and they instituted different percentages, but it is the government or the city council that we call who does the evaluation.
We have a client in Maya Beach; just on the outskirts of Placencia. They have a 5-bedroom, 3-bathroom seaside home, valued at US $500,000 and the property taxes in that area is Bze $36 for a year. That's for a half a million dollar home.
(Pictured: retail property in Belize.)
Posted August 30, 2015
Wayne Robbins - The Placencia
One of the reasons why I am personally building my home in Placencia is because the real estate taxes in Belize are miniscule. The cost for real estate tax for a house that is worth $500,000 to $1,000,000 would be around $200 a year. If you were in the States, the cost of real estate tax for a house worth $1,000,000 would be around $3,500 a year.The low real estate tax rate in Belize is a major advantage when one is considering purchasing a home or condo in Belize. The...
One of the reasons why I am personally building my home in Placencia is because the real estate taxes in Belize are miniscule. The cost for real estate tax for a house that is worth $500,000 to $1,000,000 would be around $200 a year. If you were in the States, the cost of real estate tax for a house worth $1,000,000 would be around $3,500 a year.The low real estate tax rate in Belize is a major advantage when one is considering purchasing a home or condo in Belize. The construction costs for real estate are lower than in other parts of the world as well. Overall, your cost to build is less, the quality is the same as in the US (especially on our projects), and your real estate taxes are very low.
The value of the American dollar is very strong in Belize. (The Belizean dollar is pegged at two Belizean dollars to one US dollar.) Everyone speaks English. There are a lot of reasons to look at a country like Belize and there is a lot of reasons to look at our projects in Placencia as to why one would want to buy their second or third home, or an income-producing property, whether they want to retire today or in the next 20 years. The time to buy or invest in a country like Belize could not be better.
(Penthouse in The Placencia Hotel and Residences, Placencia, Belize, pictured.)
Posted January 30, 2016