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Western maquiladora trade association January 2011 property tax changes 2011

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9 diapositives · 245 Views · Aug 07, 2014

Western maquiladora trade association January 2011 property tax changes 2011. Adrian Ocampo. background. Property tax is a local contribution that the city imposes to its residents based on the property of land.

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Western maquiladora trade association January 2011 property tax changes 2011
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  1. Western maquiladora trade associationJanuary 2011property tax changes 2011 Adrian Ocampo

  2. background. • Property tax is a local contribution that the city imposes to its residents based on the property of land. • This past years 2009 to 2011 their has beean changes to the law that have trigered discontent and litigation. • The city must pay an important debt left by the previus administration.

  3. Background property tax Property tax is city tax determined by the multiplication of the combined base of land and building : 100 % land value + 10% Construction Value. Property tax base X tax Rate each year.

  4. Background property taxLand Value. Land Value is determined by the size of the property and a list of values per square meter that the city determines and must be applied to different parts of the city. Construction Value is determined by the following table:

  5. Construction Value matrix for industrial properties 2011 Condition on Building. • Construction • Great Good Regular Bad Worse • Superior 2,890 2,497 2,053 1,015 384 • Medium 2,551 2,204 1,813 896 339 • Economic 1,737 1,501 1,234 610 231 • Value 1,078 931 776 379 143 It is not easy to determine the value!

  6. Tijuana property tax rate • Type of Building 2009 2010 2011 • Industrial • (Maquiladora Plant) 6.85 7.40 7.40 • No building (Vacant lot) 7.0 • Under 300 sq mters. 6.0 6.48 - • 300 to 500 sq mters. 6.5 7.02 • Over 500 sq mters. 7.0 7.56

  7. Background property taxLand Value. An very important issue to consider is that if the taxpayer is not happy with the value determination that the city makes it must present a petition before the tresury to obtain an adjusted rate. This is especialy important because the city gives discounts during January and February to pay the tax.

  8. Background property taxLand Value. Because the value of the property is so subjective some taxpayers in the past have litigated the property tax and obtained refund on this issue. Our firm can help with the determination and refund if applicable.

  9. Thank you very much Lic. Adrian G. Ocampo www.ocampo.biz adrian@ocampo.biz