ColombiaOne.comColombia newsCapital Cities Reportedly Won't Be Affected by Housing Tax Increase in Colombia

Capital Cities Reportedly Won’t Be Affected by Housing Tax Increase in Colombia

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The capital city of Colombia, Bogota. Credit: AP / Colombia One

Capital cities will not be affected by the increase in property tax, the Colombian Association of Capital Cities (Asocapitales) assured yesterday, following the recent uproar caused by the government’s bill that seeks to limit rate increases after cadastral reviews that must be carried out in many Colombian municipalities.

However, Asocapitales pointed out that the vast majority of capital cities in Colombia have already updated cadastral appraisals, so the measure would not affect these large municipalities. Finance Minister Ricardo Bonilla explained on Friday that the government’s intention is not to raise taxes but to limit these increases resulting from many pending cadastral reviews, which, he said, could reach 1000%.

Updated Cadastre in Capital Cities

In this regard, according to Luz María Zapata, executive director of Asocapitales, the leaders of the capital cities “did their homework” and have already updated cadastres in these municipalities, so there would be no increases in taxes as announced.

“The capital cities are cadastrally updated, and from our reading of the multipurpose cadastre bill presented, we can tell citizens living in the capital cities that their leaders were judicious, we are updated cadastrally, and they will not have an impact as has been mentioned,” said Zapata.

Call for Citizen Calm

Similarly, the executive director of Asocapitales called for calm among citizens on this matter. “A call for calm, to trust that those leaders who lead the capital cities have acted well, and among the actions they have taken is to keep the multipurpose cadastre updated, and that is why property taxes will not be increased unjustifiably,” Zapata emphasized.

Although she clarifies that she is neither a defender nor a promoter of the bill filed by the government, the director of Asocapitales is emphatic in pointing out that local leaders are obliged to comply with current norms in the legal system, and one of them orders the updating of the multipurpose cadastre as a basis for the development of local development plans and their articulation with departments and the National Government.

“What I can say is that all citizens living in capital cities can rest assured, and in this regard, I want to congratulate the leaders of the capital cities because they have done the task very well and have kept the cadastre updated as the law requires. So this will not have an impact; there will be an increase as is normal every year, but the bill does not negatively impact our citizens,” clarified Luz María Zapata.

Capital cities not affected housing tax Colombia
Luz Maria Zapata, along with part of her work team at Asocapitales – Photo: @Asocapitales / X

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