Of the total transactions, Los Cabos will receive about 400 million for the property acquisition tax
Los Cabos, Baja California Sur (BCS ). The treasurer of the City Council of Los Cabos, Rigoberto Arce Martínez stressed that with the property acquisition tax the Municipality could collect about 400 million pesos, a figure that would be given by the sale of 27 billion pesos in the real estate sector.
“We have a projection according to our studies […] real estate sales over 27 billion pesos will be carried out during this year,” he said.
This tax corresponds to the payment of 2% of the appraisal made to the property, so it is expected that during 2020 the Municipal Government will collect about 400 million pesos, he explained.
For its part, Arce Martínez recalled that in 2019 the projection amounted to 23 billion pesos in real estate transactions, which were exceeded, registering a total of 25 billion.
“We are very positive that this year the total income budget will be fulfilled, which is 2,845 million pesos for the year,” he said during his speech.
It should be remembered that, in the first months of 2020, Los Cabos managed to collect everything budgeted for the year with the property tax, so the official said that work can be done on considerations of surcharges and tax incentives.
The Mazatlan Post