Please note the new Utila property tax calculation for 2021. So on January 1, 2017, the Municipality of Utila changed the property tax calculation to be based on 0.25% (a quarter percent) of your purchase price.
For example, if you purchased Utila real estate after January 1, 2017, and got yourself a lovely beachfront home in the Tradewinds for $300,000, then your property taxes would be $750/year. Calculated as follows:
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- Purchase Price x Tax Rate = New tax owed
- $300,000 x 0.0025 (or 0.25%) = $750/year
Still super low property taxes in Utila, right???
Even still, this year, many of you have contacted me, shocked to see the new calculation. It’s understandable, since property taxes prior to this year, for real estate purchases before Jan. 1st, 2017, were even way lower than that! They were based on the Cadastral value, and were sometimes $50/year!!!
However, this year, Utila property taxes will be based on your purchase price for all properties, regardless of what year you made your real estate purchase. So what’s the good news? Paying your taxes before April 30, 2021 gives you a 10% discount!
Hope this helps!