For those who have seen your new Puerto Vallarta 2020 property tax bill you may have noticed that there has been a significant increase over last year. However, the absolute number still remains modest when compared to most American and Canadian cities.
The amount of tax is calculated based on the assessed value of your property (which is below market value) times the tax rate. This year, our tax bills reflect an increase in both.
Rising property values have resulted in an increased assessed value. At the same time, Puerto Vallarta last summer approved an increase in the tax rate for properties valued over 1.5 million pesos.
So, this is a good news/bad news story. Taxes have gone up but principally because of the increased value of our properties. Still they continue to remain substantially below tax levels north of the border.
If you would like to pay your property taxes online you can visit: https://www.puertovallarta.gob.mx/2018-2021/ Click on the button Predial on the home page and that will take you this page:
Fill in your Predial Number in the “Cuenta” box and follow the directions from there. Feel free to contact a Timothy Real Estate Group Agent for any questions you may have. If you pay your taxes before February 15th you will receive a 15% discount on your taxes.