Farm land.

Buying, Selling, Building, Tax issues, anything regarding real estate or properties in Chile.
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Re: Farm land.

Post by admin » Sat Jun 15, 2019 2:31 pm

think i told this story before, but seems relevant to the conversation.

friend / client calls us up in a panic one day because she got a tax bill out of the blue for the first time, and was terrified that she was behind on her taxes and was going to loose her house. she had never gotten one, and the bill was unintelligible accounting gibberish just glancing at it.

so we pulled the records and had a look. it was jist that they finally got around to reassesing the value of the property.

we helped her buy the house like 10 years ago. the house is about 20 or 30 years old. frutillar bajo, prime private mature condominium, that has been there like more than 30 years. a private appraisal right now, would easy peg that house and 5000 square meters, at north of 350 million pesos. hell, just the land alone is north of 150 million market value. she has won first place in the garden club of fruitar competion two times, and second place once. they had to make her a judge, to keep her from entering again. she paid 120 million at the time.

how much do you think the government thinks it is worth now?

40 million pesos,
and they still have it listed with no house, even though all building permits are correct and have been completed for over 20 years. as i recall her tax was like 40,000 pesos a year.

i thought that was kind of a head scratcher as to how they came up with that number. then i had a look at google maps. google had a satilites shot up until recently that was like 20 years old. it did not show the condominium at all. just a farmers field. they had recently updated the images, showing lots in a farmers field; but the houses still did not show. those lazy bastards at the IRS never even went to look in person. they were just googling it.
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Re: Farm land.

Post by admin » Sat Jun 15, 2019 2:33 pm

Gloria wrote:
Sat Jun 15, 2019 2:23 pm
admin wrote:
Sat Jun 15, 2019 2:08 pm
mem wrote:
Sat Jun 15, 2019 1:11 pm
I havent heard of the 5 hectare rule. I have heard of the 1 hectare rule without a house where apparently the property tax is 0%.

So a more pointed question...is it true that there could be 1 hectare rural properties with no house somewhere in rural Chile with 0% property tax?
yea i own one that is tax exempt, with a house on it.

turns out president pinera owns one too. :lol:
This means you have not regulated your house. You may laugh now but......"is pay me now or pay me later"........when it's time for you to sell it, by law you must regulate it or cannot sell. By when you do, you may have to pay retroactive those years you didn't pay and then guess who will be laughing last.....
does not even remotly work like that.
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Re: Farm land.

Post by Gloria » Sat Jun 15, 2019 2:36 pm

Sorry for the dissapointment but yes it does!
I'm from the generation of common sense, wisdom and unfiltered answers. I sayeth as I seeth.

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Re: Farm land.

Post by mem » Sat Jun 15, 2019 3:04 pm

Image

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41southchile
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Re: Farm land.

Post by 41southchile » Sat Jun 15, 2019 3:07 pm

Gloria wrote:
Sat Jun 15, 2019 2:36 pm
Sorry for the dissapointment but yes it is!
If you sell to a cash buyer you dont have to get in order it's only if there is a mortgage or you come to an agreement with the buyer you will do it. Has this changed in last 6 months?
Also how are they going to back tax you, you can just fudge the construction date, I've never heard of anyone being back taxed, has this changed recently too? Because at the end of 2018 it was not as you claim.
I can't decide for you. You'll have to make up your own mind.

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Re: Farm land.

Post by admin » Sat Jun 15, 2019 4:16 pm

first, none of that has anything to do with any my particular properties that are tax exampt; but, just to humor Gloria...

This is what happens when you don't pay:

https://www.cnnchile.com/pais/casa-pine ... _20190528/

statute of limitations

use it or loose it.

in case you are confused about how that works:

https://en.m.wikipedia.org/wiki/Statute_of_limitations
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Gloria
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Re: Farm land.

Post by Gloria » Sat Jun 15, 2019 4:49 pm

admin wrote:
Sat Jun 15, 2019 4:16 pm
first, none of that has anything to do with any my particular properties that are tax exampt; but, just to humor Gloria...

This is what happens when you don't pay:

https://www.cnnchile.com/pais/casa-pine ... _20190528/

statute of limitations

use it or loose it.

in case you are confused about how that works:

https://en.m.wikipedia.org/wiki/Statute_of_limitations
Yes, yes, yes.....humor me anytime. We are talking about the President of a nation, a politician and we all know that politicians get away with murder in most cases. But shame on him! Are you comparing yourself to Piñera? :lol: You surely have good sense of humor. Oh! by the way, I know perfectly what Statute of Limitations is.....no confusion here.....listen Grasshopper......when you are going....I'm already coming back....just saying.
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Re: Farm land.

Post by admin » Tue Jun 18, 2019 12:28 pm

well for all of you that felt left out of the property tax party, brace for impact.

Thanks to the high-profile natue of Pinera's screw-up with his own property, it looks like the chilean IRS suddendly is motivated to reasses property taxes all across the country, especially on rural properties it had ignored.

so far, we have two property tax reassements this month for client's properties, that paperwork had been pending at the IRS for months and one for years with no movement by the IRS. poof, the beucratic dam broke.

One got a bill for three years of back taxes, one got a one year bill. we highly doubt that is an accident.

so if you have property that the taxes have not changed in a long-time, keep an eye out for sudden changes in assesed value.
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From USA and outside Chile dial 1-917-727-5985 (U.S.), in Chile dial 65 2 42 1024 or by cell 747 97974.

Gloria
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Re: Farm land.

Post by Gloria » Tue Jun 18, 2019 12:51 pm

And all those properties so called rural "exempt" will also get the "axe". Eventually nothing will be exempt anymore.
I'm from the generation of common sense, wisdom and unfiltered answers. I sayeth as I seeth.

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Re: Farm land.

Post by Putenio » Tue Jun 18, 2019 1:01 pm

It's written in our title, compra/venta, registro, etc. as tax exempt, agricultural use. Unless there is a change in the use and designation of the property, it should remain valid.
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Gloria
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Re: Farm land.

Post by Gloria » Tue Jun 18, 2019 2:07 pm

Putenio wrote:
Tue Jun 18, 2019 1:01 pm
It's written in our title, compra/venta, registro, etc. as tax exempt, agricultural use. Unless there is a change in the use and designation of the property, it should remain valid.
Nothing is set on stone, times are changing and needs are getting greater. The politicians cannot do without their "summer homes" and have to pay their kids college, the "refugees" and "poor immigrants" are collapsing the system so mo' money is needed.
I'm from the generation of common sense, wisdom and unfiltered answers. I sayeth as I seeth.

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Re: Farm land.

Post by 41southchile » Tue Jun 18, 2019 2:47 pm

admin wrote:
Tue Jun 18, 2019 12:28 pm
well for all of you that felt left out of the property tax party, brace for impact.

Thanks to the high-profile natue of Pinera's screw-up with his own property, it looks like the chilean IRS suddendly is motivated to reasses property taxes all across the country, especially on rural properties it had ignored.

so far, we have two property tax reassements this month for client's properties, that paperwork had been pending at the IRS for months and one for years with no movement by the IRS. poof, the beucratic dam broke.

One got a bill for three years of back taxes, one got a one year bill. we highly doubt that is an accident.

so if you have property that the taxes have not changed in a long-time, keep an eye out for sudden changes in assesed value.
Another screw up by Piñera, thanks Sr Doufus . Bout sums him up. A wasted opportunity this administration has been, I know there have been some things that have made him almost a lame duck in some ways, still I guess we can just be grateful he kept Guiller out, that is seemingly like his ONLY saving grace. The way things are going this will only be a one term derecha govt when it needed to be at least 2 , back to more motaniveladoras in 2022.
I can't decide for you. You'll have to make up your own mind.

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