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December 19, 2021
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Get your pocket ready: in 2022 the increase in property ownership returns in Bogotá

Get your pocket ready: in 2022 the increase in property ownership returns in Bogotá

Juan Mauricio Ramírez, Secretary of the Treasury, said last Friday that the property tax will increase for 6,700 properties whose value is higher than 1,100 million pesos, in accordance with the provisions of District Agreement 780 of 2020.

(The term for the payment of the property tax by installments is exhausted).

“For next year there will no longer be a freeze for these properties. Therefore, they are going to start paying more, which is an appropriate decision in a much more progressive tax system, where those who have more contribute more ”said the official in the presentation of the budget assigned to Bogotá for 2022.

Let us remember that in 2021 there was a nominal freeze in the value of the property tax for all residential and non-residential properties in the city, and that the adjustment limit was defined based on inflation.

For next year, the value will again be conditioned by three factors: the cadastral appraisal, the rate (which will only be modified for the 6,700 properties mentioned above) and the limits defined in the Council. “This means that in strata 1 and 2 the rate cannot be increased above the percentage defined in the district agreements approved by the council.”, he pointed.

Ramírez refers to agreements 648 of 2016 and 756 of 2019, in which the annual increase in the property tax for properties for residential use whose appraisal is up to 135 mmlv may not exceed 100 percent of the variation of the CPI.

(The adjustments of the Mayor’s Office of Bogotá to this year’s property tax).

According to the TreasuryFor properties whose value is greater than 1,100 million pesos, the collection rate per thousand pesos will go from 11.5 to 12.3.

The official also indicated that the increase in the rate, on average, will be 4.9 percent. “There will be an increase that, in most cases, will not even be in the same range as this year’s inflation, which is 5.3 percent”, He said.

However, Ramírez was emphatic that one of the requirements so that the rate – one of the factors that conditions the increase – is not to have complied with the obligation in 2021. “You have to understand that for these caps to be applied it is essential that the owners have paid the property for this term. If someone did not pay the tax this year, they will not get the benefit “, he concluded.

According to the Tax Office of Bogotá, the average taxpayer of the property in stratum 1 pays 52,000 pesos of tax; in stratum 2, 79,000; at 3,515,000; in the 4, 1.4 million; in 5, 2.4 million, and in stratum 6, 4.5 million pesos.


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