Revaluation of real estate properties postponed in Guatemala

The Municipality of Guatemala decided to temporarily suspend the notices of reappraisal sent to property owners in the city.

Tuesday, September 23, 2008

Four months ago, the City started the first phase of the reassessment of real estate properties in zones 4, 9, 10, 13 and 14 because it believes that the properties in these areas are undervalued; zones 15 and 16 were to be completed in the second phase. However, residents from the affect areas challenged the Property Registry Department, because they say that the new appraisals exceed the real value of the properties, in some cases by as much as three times.

More on this topic

Cadastral Valuation Updates in Panama

February 2013

The Ministry of Finance has initiated a cadastral revaluation of properties that have never updated their value.

The Ministry of Economy and Finance (MEF) began the process of updating cadastral in various parts of the province of Panama, including the area of beach that stretches along the development centers, located from Punta Chame to Buenaventura, covering Pacific beach fronts and the Interamerican Highway, reports

Panama: Request to Modify Cadastral Revaluations

September 2014

A proposal has been made to change the tax exemption bracket from over $30,000 to $120,000 and for the rate for amounts above that figure to be set at 0.25%.

Although the process of cadastral appreciation in the capital city was suspended in November 2013, the private sector claims that the rule remains in effect and proposes amending it in order to minimize the impact of appraisals in the payment of property tax.

Panama: Municipalities Will Not Set Rates on Real Estate

October 2015

An article has been removed from the Law on Public Decentralization which granted municipalities the freedom to set and collect fees on property appraisals.

The Chamber of Commerce Industry and Agriculture of Panama has expressed its opposition to Article 113 of the Bill of Public Decentralization, which stated that "...

Panama: Land Revaluation Suspended in the Capital

November 2013

The measure will only be suspended in the capital until they manage to redefine the revaluation process, and will still be in effect at the beaches.

From a press release by the Ministry of Economy and Finance:

The Ministry of Economy and Finance wishes to make public its willingness to suspend the process of cadastral appreciation in the capital. In the meantime, the measure will continue to be upheld in the beach areas.

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