Property taxes vary from 0.5% to 1.5% of the declared value of
the property. However, Costa Ricans are a calm and resourceful people, so they
customarily undervalue their properties by at least 20% when they register it.
The closing costs of a sale include a transfer land tax, a
stamp tax, and legal fees. Closing costs run about 5% or 6% of the sale price,
an expense divided evenly between buyer and seller. Transfer land tax and
stamp tax assessments are based on the declared value. Legal fees are based on
the selling price of the property.
Transactions may be conducted in U.S. dollars.
