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#161135 - 02/10/04 01:13 AM Property taxes?
ScubaSnack Offline
I noticed on Lan's site a story about property taxes being increased and/or more aggressively collected.

My main concern is with the 5% Annual Speculation Tax on properties over 300 acres. I'm really interested in a >300 acre tract but shudder at the thought of paying 5% per year...it's a deal killer for me.

Would these "Speculation Taxes" be based on the sales price or on a less than market value assessment? Anybody have additional info on this topic?

Thanks, Tom W.

#161136 - 02/10/04 03:42 PM Re: Property taxes?
toad Offline
my guess is that if you are lucky enough to be able to afford 300+ acres down there, you can justify it in the early going.... most bets are won or lost on the first tee....

#161137 - 02/10/04 07:43 PM Re: Property taxes?
ChrisW Offline
If you are going to purchase 300 acres, you are going to need a Belizean lawyer and I bet he can answer this question better than any of us. However, I will say that I have heard about people making small improvements to their land to avoid paying "speculation" taxes (IE clearing underbrush, building a $1000 shack over 10 years, etc could save you having to pay). But I am not a lawyer let alone a Belizean lawyer...

Also alot of countries have a limit as to how much land a foreign individual can own (as opposed to a foreign business). I can't remember off hand if Belize has such limits, but you might want to look into it. (IE you may have to start a business to real or imaginary to get that much land.)


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