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Property taxes? #161135
02/09/04 07:13 PM
02/09/04 07:13 PM
Joined: May 2003
Posts: 36
ScubaSnack Offline OP
ScubaSnack  Offline OP
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'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.

Re: Property taxes? #161136
02/10/04 09:42 AM
02/10/04 09:42 AM
Joined: May 2002
Posts: 1,336
toad Offline
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....

Re: Property taxes? #161137
02/10/04 01:43 PM
02/10/04 01:43 PM
Joined: May 2001
Posts: 476
Indianapolis, IN, USA
ChrisW Offline
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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