Luxury Home Tax Takes Effect Today
Today, October 1, 2009, is not a good day
for owners of homes categorized as "luxury",
as owners such homes, beginning today will
have to pay a special tax for a period of 10
years.
The new tax will be applied in increments
that range between 0.25% and 0.55% of the
value of the property.
The tax is a way for the government to
generate more revenue with the objective of
financing "viviendas de interés social" -
social housing. |
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