In Mexico, legally, the property debt is what you must pay, as a citizen, for a property based on its cadastral valuation. It is considered a municipal tax that is paid to the treasury of each municipality, depending on where the property is located. This is why many people wonder How to know how much I owe from Property.
In this section, you will find the most important information you need to know about this procedure. how to know how much you owe, how to calculate the debt and much more. Keep reading!
How do I know how much property I owe in Mexico?
As we mentioned in the introduction, legally the property debt is what you must pay, as a citizen, for a property based on its cadastral valuation. It is considered a Council tax that is paid to the treasury of each municipality, according to where the property is located.
Technology has made it easier to see how much you owe and how to pay it, you just have to follow the steps mentioned below:
- Enter the official page of the Secretariat of Administration and Finance of Mexico City and select the icon of Predial in the box of Debts.
- In this option, there are two ways of consulting payments made: one search by capture line or by date, box and item. If you have any questions about the concept of payment, the Secretariat puts at your disposal an information table.
- To obtain your cadastral keyThis can be found on the previous year’s receipt or in the invitation letter that you will receive at your home address. If you have a question Go to the Treasury or any service module close to your home to help you.
- Print your payment form and check right there from which banks, department stores, pharmacies and convenience stores to choose you can do it.
- Pay the amount (bimonthly or in a single issue). Remember that if you are retired, retired or elderly, discounted accounts of the property debt. To make it valid, go to the Property Department in the Retired and Pensioners area and meet requirements.
- Finally after two business days, check that the payment is registered in the system. You just have to type the capture line.
How much do you pay and how is the calculation done?
The calculation can be done by entering the website of the Cadastral Virtual Office. Then, they must enter the section of Know your tax and there perform the filling. It is important to have your property account number on hand when making the calculation. The property tax is calculated based on the cadastral value of the property. It is determined by calculating the unit values of the soil and the construction and multiplying these by the surface of the building.
Land value calculation
To calculate the value of the land, the first criterion used is the location of the property. According to its location, there are three types of land value:
- Value area: This implies a calculation based on a group of blocks (group of houses located in the same lot or area) that have similar characteristics in terms of infrastructure and urban equipment (services), type of property (single-family houses, condominiums, commercial premises, factories, etc.) and real estate dynamics.
- Enclave of Valor: The calculation by location is made when a portion of blocks or residential lots are noticeably different in value and characteristics, with respect to the others in a specific area.
- Value broker: It is the calculation that is made when the property is located on an important or busy avenue or road.
Construction value calculation
After calculating the value of the land, the construction appraisal is computed. For this, factors such as:
- Type of property (residential or commercial);
- Number of floors (both of the general construction, and of the property itself). For example, it may be a two-level apartment, located within a 1st-story building);
- The land’s surface;
- Construction surface;
- Construction age;
Finally, to carry out the calculation, the ranges of values are taken into account. This means that there are tables that mark the property tax amount according to the cadastral value range in which a home is located.
The range is presented taking into account the lower limit and the upper price limit. This means that, if rank one were, for example, homes between one peso and 100 thousand pesos and I have a home with a cadastral value of 50 thousand pesos and my neighbor has one with a value of 30 thousand pesos, we will both be creditors at the same one-time fee.
The results of the calculation not only depend on the number of square meters of the property, but also on the area and type of construction, topographic conditions, equipment and urban services that they have. This means that the amount that we must pay for property tax will be different for each person and comparisons should not be made that consider one or two isolated factors.
The Finance Secretary Capitalina, as well as those of some other states, offers users an instrument to calculate the property tax, in case they have not received the payment order, have lost it, or do not agree with the amount marked in said document .
How to Know How Much Property I Owe: Account Number
Your property account number, you will find it detailed and reflected in the collection receipts, If you do not have this account number, you must go to the municipal service center (CAM).
It is located at Av. Adolfo López Mateos PTE, 214. Before it was known as the Mexican commercial, so that the account number corresponding to your property is provided. This center It is open to the public from 8:00 a.m. to 7:30 p.m.
How to Know How Much Property I Owe: Annual Payment
One of the recommendations given by financial experts is to pay debts at the beginning of the year, mainly the services of your home or your business, such as water or predial. Upon entering the portal of the Secretariat of Administration and Finance, you will be able to choose between several options so that you know the tax that you will have to pay per year. The options are:
- Current period.
- Know your tax, in which the property tax is calculated in detail.
- Overdue periods.
- Cadastral Procedures: such as data review, account assignment, update of the owner’s name, registration, cancellation of the address, location of the property, among others.
Once the option has been chosen, another window will be displayed in which you must enter your cadastral account, which consists of 12 digits and an authentication phrase or word that the system will give you as a security measure to enter.
Upon entering the system, the amount that you will have to pay and the capture line to do it will be displayed. And ready.
Where should I pay?
You can pay your property tax online and print your receipt or go to a tax office in the state where you reside.
For those who want to pay online or for those who do not, the corresponding payment can be made in self-service stores such as Chedraui, Sam’s Club, La Comer, Superama, among others.
What is understood by Property?
The property is a tax that must be paid by any person who owns a property, regardless of its use, whether residential, commercial or industrial.
The calculation for the payment of the property is made based on the value of the land, which depends on the location of the property; and the value of the construction, which includes the type of property, the number of floors, the surface of the land, the surface of the construction and the age of the property.
The main function of this tax is to generate resources so that municipal governments can provide services public at the local level, such as lighting, paving, garbage collection, etc., explains the Mexican Institute for Competitiveness (IMCO).
To make the property payment in the State of Mexico or ask questions about your taxes, you should go to the following address, at the locations and times specified:
The property discounts in the State of Mexico are also available for those who need them:
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