Property Taxes in Panama

Property Taxes in Panama 

Photo from: Living in Panama

Properties with a registered value of $30,000 or lower do not pay property tax. For properties of a higher value, they pay as follows: 

1.75% from $30,000 to $50,000

1.95% from $50,000 to $75,000

2.1% over any property value above $75,000. 

If you buy or build a residential property in Panama, you may be exempt from property tax for up to 20 years if the construction permit is issued by Sept. 1, 2006, and the occupancy permit issued and improvements registered by Sept. 1, 2007. On houses or apartments where the construction permit is issued after Sept. 1, 2006, the following exemptions will apply: 

Value up to $100,000: 15-year exemption 

Value from $100,000 to $250,000: 10-year exemption 

Value over $250,000: 5-year exemption. 

The exemption is transferable during the exemption period to any new buyer. The land itself is not exempted, and would continue to incur property tax if its value is above $30,000.

Information from: https://internationalliving.com/countries/panama/taxes/