These Could Be the Amounts for the Property Tax with the MinHacienda Project

Tax attorney Juan Pablo Díaz was mentioned in an article for La República about the bill presented by the Ministry of Finance to modify property taxes in Colombia. The project proposes gradual limits of up to 300 percent in increments depending on the value of the cadastral appraisal, seeking to avoid significant increases. Although these increments are viewed with concern, the deputy director of the Instituto Geográfico Agustín Codazzi (IGAC) assured that it will not affect cities like Bogotá, since they update their cadaster annually, and look to strengthen territorial autonomy. Mr. Díaz pointed out that the project represents a substantial change and that the existing law contemplates progressive increases in the unified property tax.

“Since currently under Law 1995 of 2019, only progressive increases in the unified Property Tax were planned considering a CPI + 8 percentage points at most,” he said.

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