Since 1995, through Executive Decree No. 3-95, the Real Estate Tax or IBI was established as a tax on real estate located within each Municipality.

For IBI purposes, the following are considered real estate:

  • Land, stable or permanent plantations, and fixed and permanent installations or constructions
  • All assets that constitute real estate by their nature or by accession according to articles 599 and 600 of the Civil Code.

The IBI is equal to one percent of 80% of the value of the property according to the municipality’s cadastral appraisal of the land and improvements.

The tax payment is due in the year following the year in which it is generated, i.e., the IBI 2021 is paid in 2022.


50% in the first quarter and 50% in the second quarter. Late payment generates a municipal fine.


A taxpayer that pays the entire tax in the first quarter of the year receives a 10% discount on the amount due.

Relevant dates

  • Last date for payment of the first installment: March 31
  • Last date for payment of the second installment: June 30
  • Last date for full payment with 10% discount: March 31.