January 15^th of 2014 was the deadline for payment without surcharge of the Solidarity Tax (also known as Luxury Houses tax). This tax is imposed on residential property whose construction value amounts to ¢121,000,000.00 (one hundred twenty-one million colones) which is approximately $239.605,00 ¹ (two hundred thirty nine thousand six hundred five dollars).

Solidarity Tax

This  Solidarity Tax  came into effect in october 2009 to raise funds for strengthening housing programs.

It is important to remember that the declared value of the property must be updated every three years and is an annual tax. The declaration is made through an online form, which is available at the website of the Ministry of Finance:  www.hacienda.go.cr, exactly in the ” Declaration and payment” section and under the name “Formulario D-179 “Formulario Único de Inscripción, Declaración y Pago Impuesto Solidario para el Fortalecimiento de Programas de Vivienda, Ley 8683”.

At the ministry´s site is also available the information required to calculate the value of the property.

Tax payers will be punish as follows: for non-payment or late payment will be charging with an extra-fee of 1% monthly on the amount due, for each month or fraction thereof of the unpaid tax. Also will be charge with an interest rate of 12.56% on the same amount.

Taxes Rates depending on the value of the property:

Article 5 of the law abovementioned establishes the amounts that will apply this 2014, which are set out below; also in accordance with article 6 of the referred law, the minimum exemption is set on ¢121,000,000 as indicated before.

The rates applicable to this year are:

The exchange rate set on 08/01/2014 was ¢505 = $1. For updated exchange rates please access the following link:

http://indicadoreseconomicos.bccr.fi.cr/IndicadoresEconomicos/Cuadros/frmConsultaTCVentanilla.aspx