In February, payment of said municipal tax must be made
From the first month of the year, the district municipalities begin to distribute the checkbooks or “couponeras” in which it is detailed how much each neighbor must pay for certain taxes (Property Tax and excise taxes).
In the case of the Property Tax, the value of urban and rural properties is levied, or the tax is applied, based on self-assessment, explains the manager of the Legal Center of the Lima Chamber of Commerce (CCL), Álvaro Gálvez, to the Andean Agency.
“The self-assessment is the amount that is established for the value of the property (house, land, premises), according to some criteria approved by the Ministry of Housing, Construction and Sanitation every year”, he points out.
Álvaro Gálvez details that the Property Tax is calculated by means of a progressive scale, considering the value of the self-assessment divided into Tax Units (UIT):
– If the value of the self-assessment is up to 15 UIT, 0.2% of said value will be paid.
– If the self-assessment is between more than 15 UIT and 60 UIT, 0.6% will be paid.
– If the value of the self-assessment exceeds 60 UIT, 1% will be paid.
The legal specialist of the CCL indicates that the collection, administration and control of the Property Tax corresponds to the district municipality where the property is located.
“All owners are required to make this annual payment until February of each year, or it can also be divided into four parts (February, May, August and November),” he says.
Discount or exemption
Álvaro Gálvez points out that, in the case of Property Tax, there is a benefit to reduce or exempt the payment of this municipal tax to adults over 60 years of age.
“This benefit is aimed at all people over 60 years of age, and not only for pensioners. But they must also meet the requirement of having a monthly income that does not exceed 1 UIT ”, he maintains.
The specialist explains that to access the discount or exoneration of the Property Tax that benefits adults over 60 years of age, an amount equivalent to 50 UIT must be deducted from the value of their self-assessment.
In other words, if the value of the self-assessment exceeds 50 UIT, the Property Tax must be paid only for the remaining difference. It should be noted that the UIT for the year 2023 is equivalent to 4,950 soles.
“Considering that 50 UIT are 247,500 soles, that is the amount that an adult over 60 years of age can deduct from their self-assessment in 2023. Therefore, if the self-assessment of the house or property is 246,000 soles, they will not pay the Tax Predial”, details Álvaro Gálvez.
“But if the value of the self-assessment is greater than 247,500 soles, the elderly will have to pay the Property Tax considering only what exceeds that amount,” he adds.