MexConnect.com Forums: General: General Forum: Mexican govt taking your money?: Page 2

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tonyburton

Oct 25, 2009, 1:56 PM

Post #26 of 39 (1345 views)

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Re: [Hound Dog] Mexican govt taking your money?

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One of the few things not yet remarked on in this thread (and hopefully it will not happen to anyone reading this) is what happens if your property is 'required' for a new road, or airport, or dam, or whatever. You will receive compensation, but the compensation you receive will be based on the declared value of your property. In many (most?) cases), this is way below the true market value of the property, but is the value on which those low taxes that you paid all those years was based...
The government's "get out" clause is that anyone can apply at any time to have their property revalued (and have a corresponding tax hike) but how many people ever actually do this?

arbon

Oct 25, 2009, 2:15 PM

Post #27 of 39 (1336 views)

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Re: [tonyburton] Mexican govt taking your money?

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"One of the few things not yet remarked on in this thread (and hopefully it will not happen to anyone reading this) is what happens if your property is 'required' for a new road, or airport, or dam, or whatever. You will receive compensation, but the compensation you receive will be based on the declared value of your property. In many (most?) cases), this is way below the true market value of the property, but is the value on which those low taxes that you paid all those years was based...
The government's "get out" clause is that anyone can apply at any time to have their property revalued (and have a corresponding tax hike) but how many people ever actually do this?"
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That is also related to ....How do you calculate a value for "House Insurance" which is usually replacement cost?

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(This post was edited by arbon on Oct 25, 2009, 2:16 PM)

arbon

Oct 25, 2009, 2:42 PM

Post #28 of 39 (1327 views)

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Re: [tonyburton] Mexican govt taking your money?

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If you built on "Federal Zone" deemed property don't expect any compensation.....Right?
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Rolly

Oct 25, 2009, 2:47 PM

Post #29 of 39 (1322 views)

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Re: [arbon] Mexican govt taking your money?

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If you built on a Federal Zone. expect a fine and a bulldozer. Happened around here recently. Very bad idea.

Rolly Pirate

E-visit me http://Rollybrook.com
On Facebook as Rolly Brook

gpkgto

Oct 25, 2009, 2:51 PM

Post #30 of 39 (1319 views)

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Re: [arbon] Mexican govt taking your money?

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Eminent domain takings by Mexican governments are appealable--just as in the US. The notario I work for has been successful at this--I helped on one such case of an American business owner.

Manuel Dexterity

Oct 25, 2009, 2:52 PM

Post #31 of 39 (1324 views)

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Re: [arbon] Mexican govt taking your money?

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If you built on "Federal Zone" deemed property don't expect any compensation.....Right?

If you hold the concession, not for the land but you have the right to compensation for any improvements such as buildings. But you haven't been paying "predial" but payments for concession rights.

Normally compensation is much lower than the actual value.

arbon

Oct 25, 2009, 3:11 PM

Post #32 of 39 (1315 views)

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Re: [Manuel Dexterity] Mexican govt taking your money?

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We were vaguely aware of federal land on the coast and where there are rivers and vados.

But I was wondering about the road widening at Lake side. (there was mention of federal land at the side of the road)

and the "Arroyos" above the road between Joco and Chapala. (are not the arroyos federal land?)
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(This post was edited by arbon on Oct 25, 2009, 3:21 PM)

Rolly

Oct 25, 2009, 3:46 PM

Post #33 of 39 (1307 views)

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Re: [arbon] Mexican govt taking your money?

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Federal land also includes the edges of federal highways and high-voltage distribution lines.

Rolly Pirate

E-visit me http://Rollybrook.com
On Facebook as Rolly Brook

Manuel Dexterity

Oct 25, 2009, 5:16 PM

Post #34 of 39 (1287 views)

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Re: [Rolly] Mexican govt taking your money?

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If you built on a Federal Zone. expect a fine and a bulldozer. Happened around here recently. Very bad idea.

No, there are all kinds of construction on federal zone property. You must apply for and acquire the concesión from Semarnat. You pay a yearly fee for use of this property and all improvements must have prior approval.

We hold a concesión on the lagoon in Barra de Navidad. It has been in the family for many years.

Manuel Dexterity

Oct 25, 2009, 5:37 PM

Post #35 of 39 (1282 views)

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Re: [arbon] Mexican govt taking your money?

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Typically 15m from the middle of the highway or 10m from the road's edge is zona federal. Rivers and streams and I believe 6m from the water's edge is zona federal.

(This post was edited by Manuel Dexterity on Oct 25, 2009, 5:39 PM)

Rolly

Oct 25, 2009, 6:12 PM

Post #36 of 39 (1268 views)

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Re: [Manuel Dexterity] Mexican govt taking your money?

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Yes, of course. I left out two important words -- without permission. I was thinking about what happened here after the Rio Nazas flood last year when several dozen houses were found in the federal zone. Their blockage of the river's flow greatly added to the overall destruction.

Rolly Pirate

E-visit me http://Rollybrook.com
On Facebook as Rolly Brook

tango996

Oct 25, 2009, 7:46 PM

Post #37 of 39 (1244 views)

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Re: [tonyburton] Mexican govt taking your money?

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I'm stil a bit confused by this. Does this 2% (soon to be 3% ) tax apply to bank to bank money transfers wired from another country into a Mexican bank account? It doesn't seem that this would be a "cash deposit."

mazbook1

Oct 25, 2009, 7:58 PM

Post #38 of 39 (1239 views)

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Re: [tango996] Mexican govt taking your money?

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No, it doesn't apply to any sort of electronic deposits, whether bank to bank in México or bank to bank from outside México. Since I have never asked my bank about checks, I don't know whether they count as "cash" or not, but I would bet they don't. This tax was just an attemp to control the huge, untaxed, cash economy in México.

bournemouth

Oct 25, 2009, 8:37 PM

Post #39 of 39 (1227 views)

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Re: [mazbook1] Mexican govt taking your money?

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Checks don' count towards the total - it's pure cash at this point.

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