Property Taxes in Los Cabos

Property Taxes in Los Cabos Are Lower Than You Think (And Easier to Pay!)

It’s no secret that Los Cabos is home to some of the most spectacular real estate on earth, from sprawling hacienda style properties overlooking the ocean to gorgeous beachfront condos and breathtaking hilltop luxury villas.

Discerning travelers and those interested in the secondary home market also know that cape cities Cabo San Lucas and San José del Cabo are destinations on the rise, thanks to a thriving culinary scene driven by celebrated chefs, and upscale amenities like pampering spas and championship-level golf courses.

But what’s not so well-known are the Los Cabos area’s property tax rates, and how well they stack up against those in the U.S.

Differences in Property Tax Rates Between the U.S. and México

Not only are magnificent ocean view homes more readily available, and at much lower average list prices than those of its North American neighbors, but Los Cabos also offers superb value in terms of annual property taxes.

Los Cabos property taxes, known in Spanish as the predial, are assessed annually at only 0.1% of the value of the property at the time of its purchase. That’s well below the rate for all 50 U.S. states. Hawaii, for example, is the U.S. state with the lowest annual property tax rate at 0.27%. Colorado, California and Texas occupy the proverbial middle ground at 0.57%, 0.79% and 1.86%, respectively; while Illinois and New Jersey, at 2.32% and 2.40%, have the highest annual U.S. property tax rates.

Los Cabos is also a value when compared to Canada, easily besting the property tax rates of cities like Vancouver (0.25%) and Toronto (0.64%).

Annual Taxes based on the above for a $500,000 usd home:

  • Colorado @ 0.57% = $2,850 usd
  • California @ 0.79% = $3,950 usd
  • Texas @ 1.86% = $9,300 usd
  • Hawaii @ 0.27% = $1,350 usd
  • Illinois @ 2.32% = $11,600 usd
  • New Jersey @ 2.40% = $12,000 usd
  • Vancouver @0.25% = $1,250 usd
  • Toronto @ 0.64% = $3,200 usd
  • Los Cabos @ 0.1% = $500 usd

How to Accrue Additional Savings on Your Los Cabos Property Taxes

In addition to the built-in savings on property taxes vs. U.S. rates, home owners in Los Cabos are also eligible for additional savings simply by paying their taxes in a timely fashion.

Property Taxes in Los Cabos

(Photo Credit to CaboCribs)

The annual deadline for property taxes in Los Cabos is March 31, however, the Los Cabos Municipal Council offers discounted rates to those who pay early. Discounts are awarded on a sliding scale: 20% off the predial for payment in January; 15% in February; and 10% in March.

For those considering Los Cabos as a retirement destination, senior citizens over 60 years of age who are also permanent residents qualify for property tax discounts of up to 50% off the standard predial. These savings are available through México’s INAPAM program, which issues a card to enrolled seniors entitling them to discounts on a wide variety of goods and services.

How to Pay Your Los Cabos Property Taxes

No need to stress the payment process, either. It’s completely modernized and conveniently easy. Home owners are able to pay the predial online at http://www.eloscabos.gob.mx/. The only prerequisites are your clave catastral (a 17-digit tax ID number) and a valid credit card.

The Big Picture

Los Cabos continues to take steps to reward home owners who pay their property taxes on time and in full, as well as to streamline the process for maximum ease and convenience. Consider these attractions in tandem with the stunningly beautiful locale, and lifestyle factors like abundant upscale amenities and a lower cost of living, and it’s no wonder that the Los Cabos real estate market has never been hotter than it is right now.

Windermere Los Cabos Real Estate

For more information about Los Cabos real estate, please call us Toll Free today at (855)877-2226 to find out more about buying a dream home in Los Cabos or contact us here, thanks!

John R. Vering

 

Posted on December 6, 2018 at 9:24 pm
John Vering | Category: Living in Cabo San Lucas, Los Cabos, Real Estate of Los Cabos | Tagged

The Good Life at Land´s End

3 Reasons Los Cabos is the Fastest-Growing Destination in Mexico

In Los Cabos, rapid growth isn’t just an abstract concept or an impressive set of statistics, it’s a tangible, measurable fact. Not only is Baja California Sur’s southernmost municipality the fastest growing tourist destination in México, it’s also among the country’s fastest growing destinations for U.S. expats, and for seasonal residents who are buying second homes in the area.

One need only cruise the coastal highway between cape cities Cabo San Lucas and San José del Cabo to see the evidence of this explosive growth. There, a striking collection of new luxury resorts and residential developments are vying for the most breathtaking views of gorgeous golden sand and the glittering blue waters of the Sea of Cortez.

And that’s merely one of many coastal zones with ambitious new developments in progress.

Los Cabos, long the discerning snowbird’s preferred winter getaway spot, is suddenly hotter than ever, and no one seems in any hurry to go home. For many, in fact, it now is home.

Here are three reasons why…

Climate & Setting

The Good Life at Land´s End

(Photo Credit Blue Sky Cabo)

The weather isn’t just sunnily, palm tree perfect when frigid winter temperatures are buffeting much of the U.S. With an average of 350 days of warm sunshine annually, just about every day is perfect in Los Cabos.

But it isn’t just the temperate year-round climate that’s attracting new residents, it’s the jaw-dropping scenery. Surrounded on two sides by water – Land’s End in Cabo San Lucas is the symbolic demarcation between the Pacific Ocean and Sea of Cortez – and with an interior that segues seamlessly from picturesque playas to stark, cactus-framed desert landscapes and rugged mountains, Los Cabos is one of the most spectacularly beautiful and geographically diverse places on earth.  Legendary French explorer and naturalist Jacques Cousteau once called the Sea of Cortez “the world’s aquarium,” and the area’s wealth of natural wonders are always on display, both on land and beneath the sea.

Lifestyle & Amenities

The Good Life at Land´s End

(Photo Credit Quivira 13th Hole)

Los Cabos’ varied terrains translate to abundant activities and lifestyle pursuits, from the area’s famed big-game sport fishing and year-round surfing to mountain biking and off-road racing. The most popular activities, however – at least in recent years – have been leisurely pastimes like golf and spa visits.

No surprise, really, given the incredible options.

No place outside the golf’s ancestral home of Scotland has more world-class courses in such close proximity as Los Cabos. The cape cities boast over a dozen top courses from legendary names like Jack Nicklaus and Tiger Woods, three of which are currently ranked among the 100 best in the world.

Spas too are abundant, not to mention abundantly pampering. In annual rankings from Travel + Leisure, Los Cabos dominates rankings of the top spas in Latin America and the Caribbean.

Overall Quality of Life

The Good Life at Land´s End

(Photo Credit Cabo Adventures Luxury Sailing)

Beautiful weather, gorgeous natural settings, and a bevy of luxury amenities and lifestyle options are all very persuasive arguments for the area’s high quality of life…but that’s only scratching the surface.

Los Cabos has a lower cost of living than the U.S., and significantly lower list prices for coastal real estate; meaning it’s possible to buy the home of your dreams for a fraction of what it would cost in the U.S.

Add it all up and the real question isn’t why are so many people moving to Los Cabos, but why isn’t everybody?

Windermere Los Cabos Real Estate

For more information about Los Cabos real estate, please call us Toll Free today at (855)877-2226 to find out more about buying a dream home in Los Cabos or contact us here, thanks!

John R. Vering

 

 

Posted on November 9, 2018 at 11:41 pm
John Vering | Category: Living in Cabo San Lucas, Real Estate of Los Cabos | Tagged

10 Questions You Should Always Ask When Buying a Property in Los Cabos

Real estate remains to be one of the most influential investments in many parts of the world. One such part is Los Cabos, where you can always find a property to suit your needs. Owning properties in this part of Mexico is a dream for many people looking to invest in destination living in a pleasant climate. There is also a big market for luxury real estate in the area. However, if you are not well prepared, making this dream come true can be difficult.

The wisest thing to do is to hire the services of an expert in the real industry to protect your interests and assist you with the process of buying in this popular luxury tourist destination. Below are ten questions we suggest you ask your real estate agent when buying a property in Los Cabos, Mexico, to ensure you are educated in settling for the right choice and make your buying process smooth.

1. How long have you served in the real estate industry?
An agent who has been in the business for long may be more knowledgeable about how things are run and have more odds of finding your dream home. To ascertain the quality of their services, you may even inquire if the agent has gotten any awards for their performance.

However, being in business for long doesn’t guarantee a quality service. You should therefore not despise the services of a newbie. The essential thing is ensuring they are licensed to operate.

2. Where is the property located?
Los Cabos is a big municipality located in the Baja California Sur peninsula. It includes Los Barrriles, Cabo Pulmo, East Cape, Cabo San Lucas, San Jose del Cabo, among other areas. Each of these towns is unique regarding the environment and the facilities they offer.

For instance, if you want your property in a town with a busy nightlife, varied beach activities, tours, shopping, and cruises, then Cabo San Lucas is the place to buy. San Jose del Cabo, on the other hand, is a more peaceful town with great restaurants, more tranquil beaches, and a fantastic art district. Therefore we suggest you ask where exactly the property is located to get the right fit for your needs.

3. Can we submit a lower offer than the price listed?
Sometimes the prices in real estate are negotiable. If you think the property you are about to buy can be offered at a lower price, do not hesitate to ask the agent whether the listed price is definitive.

4. Are there any health or safety issues I should be aware of?
Before buying a property in Los Cabos, consult with your real estate agent about any health or safety concern you may have, such as the quality of indoor air, lead paint, mold, mosquitoes, etc. Being informed about all these issues can help you counter them.

5. Can you give me some references?
When buying a property in Los Cabos, you can always ask your realtor whether they can give you any references to previous customers. If any, make an effort to reach them and inquire about their experience with the agent.

6. Can you show me similar properties in the area?
The more options the realtor has, the better for you. You want to get real value out of your investment and not just go for any property you find in the market. Therefore, to find your dream home, go house hunting with your agent and evaluate all your options.

7. Are there any zoning laws?
Knowing the zoning laws and any planned project or development in the location of your desired property will enable you to make an informed projection of possible future changes in the neighborhood.

8. Are you aware of any disadvantages the property may have?
No matter how perfect a place may seem, your agent knows best. A property inside a development may have HOA issues, noisy roads nearby at night, or any other situation you may not notice in a regular day tour.

9. Do you offer any guarantee for your services?
If after making an offer things do not work out the way you wanted, your agent should be able to cancel the agreement. A good agent should offer you the flexibility to change a deal without any hassles.

10. How long has the property been on the market?
When a property is listed for too long in the market, doubt arises. It is not necessarily a bad thing, but you can always calm yourself by clearing any doubts with your real estate agent. Find out if the property is too expensive, or if there may be something wrong with it.

Buying a property in Los Cabos with the help of a real estate agent from Windermere is definitely a safe investment. The real estate industry may be too difficult to handle alone. Windermere, where dreams become a reality, is currently providing over 100 years of Real Estate experience in the Los Cabos area. Regardless of the type of luxury property you are looking for, may it be for destination living, leasing or any other purposes, we have got you covered.

Posted on January 31, 2018 at 8:20 pm
John Vering | Category: Los Cabos, Real Estate of Los Cabos