Since the law was passed giving municipalities the right to collect property taxes, collection has increased by 2% annually.
However, the amount being collected for property taxes could grow substantially because their registered values are much lower than their real values.
In their analysis of the issue, Daniel Shea of the Costa Rican Tico Times, indicates that according to a recent study by the Technical Standardization Entity (ONT) of the Treasury Department, where they evaluate the value of properties in Costa Rica (the first one of this type in 10 years), 92% of properties have a value listing at $20,000 or less...