Facilities have been enabled to approve cadastral plans digitally without requiring the physical presence of surveyors and property owners at the offices of the National Registry.
The new initiative known as Approval of Topographic Plans (ATP) has made the process of approving cadastral plans in Costa Rica digital, as from now on the physical presence of surveyors and property owners on the premises of association of Engineers and Architects (CFIA) or the Land Registry will no longer be required reported that union.
For 50% of the properties that make up the country there are no exact measurements and boundaries are not validated by the national cadastre system.
Out of 478 districts in the country, only 32 have catastral plans and 35 are still being published, ie around 800,000 properties do not have validation of their boundaries. Among the missing cadastral areas are urban areas and land sea areas.
The Central Bank intends to adopt international standards for the system of performance indicators of the economy.
Projected for the period 2014-2021, the Programme for Modernization of MacroeconomicStatistics, as well as including new indicators, will have qualitative changes in databases and modernization of the presentation of results, including the renovation of urban and rural mapping and creation of a digital directory of buildings.
The creation of a Register of Shareholders in Costa Rica aims to control the payment of tax on transfer of real estate.
Analysts say that if the purpose of the creation of the Register of Shareholders was the fiscal control of a commercial act geared towards commercial companies with specific characteristics, simpler ways could have been devised to achieve it, rather than creating a general obligation for all corporations.
A Property Ordinance has been proposed which aims to complete the registration process for 10 thousand of the 106 thousand square kilometers that are currently without cadastre.
In the second phase of a program for a mass titling system, supported by the World Bank, the intention is to register 10,000 out of the 106,000km ² that are still without cadastre. In the land cadastre there are 24,000 km ², representing just over 19% of the total area of the country and the project would increase it to 33,000 km ².
Business groups are working on the definition of an alternative to the Government's policy to value properties according to their commercial value.
An article in Prensa.com reports that as an example José Luis Ford, president of the Chamber of Commerce, Industries and Agriculture of Panama (Cciap) noted that the position of the chamber is "to search for a more 'real' number, because the value used (commercial value for determining the registry value) does not match reality."
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 Panamaamerica.com.pa.
As a result, the mall will pay $2.2 million more in taxes.
The lot of the shopping complex is located in one of the most valuable areas of Panama City. It was originally valued at $13 million, but the Asset Management Department at the Ministry of Finance has reviewed the registry value of the lot and increased it to $231.2 million.
The funds are earmarked to improve the penal justice system and consolidate property registry in the Protected Areas.
A press release from the Ministry of Finance reads:
Two important agreements on financial cooperation in support of the Justice and Environmental sectors for a total of $52 million were signed today between the Inter-American Development Bank (IDB) and the State of Guatemala, through the Ministry of Finance. Part of the funds will be used to increase efficiency and allow access to the Criminal Justice System in the country, while a second part aims to consolidate the physical cadastre of the National Protected Areas System.
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