Luxury homes in Costa Rica valued above ¢148,000,000  must pay the luxury property tax (known as solidarity tax). The tax is yearly from January 1^st to December 31^st and must be paid every year by January 16^th.

Costa Rica has a tax for luxury homes (solidarity tax).  This tax applies to homes used for regular, occasional, or recreational purposes.  It applies to the construction or fixed facilities valued at ¢148,000,000 (approximately $246,000) and above.The original purpose of this luxury property tax is to help finance homes for the population in extreme poverty.  It is not deductible for income tax.

Attached are the luxury property tax rates in Costa Rica for 2023 (prices in colones).

How to determine the tax amount:

The value of any main + additional construction must be determined, including swimming pool, clubhouse, perimeter walls, tennis court, etc. Once this value is determined, if it exceeds the exempted amount,  then you must add the value of the lot into the equation.

The tax can be paid in the following banks:

• Banco de Costa Rica
• BAC San José
• Scotiabank
• Coopenae
• Banco Nacional de Costa Rica y sus corresponsales
• Banco Davivienda

Source:

Ministerio de Hacienda Costa Rica