AmbergrisCaye.com Home Forums Talk Belize Chat Area Property taxes?

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.

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....

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.)