This is the view from Ronan's penthouse suite in the mountain colonial town of Cotacachi, Ecuador
Obviously, I don’t know how much property tax you’re paying right now…but I’m pretty sure I know a way you can reduce it—to as little as $7 per month…or maybe less.
International Living readers have been doing this for years. When you live overseas, it’s not just the price of goods and services that goes down…
I recently got the property tax bill for my penthouse suite in the mountain colonial town of Cotacachi, Ecuador: $5 per month. That’s just slightly more expensive than the cappuccino I’m sipping at my desk in Toronto!
As I said, this is no secret for IL readers. John from Texas recently bought at lot as Coco Beach village on Ecuador’s coast. He plans to build a house here. The property tax will set you back $6 per month.
This is the nicest stretch of Ecuador’s coast (between Pedernales and Canoa). Here, the foliage is a lush green.
My friend Marc lives with his family in this four-bedroom home right on the beach at Rancho Santana, Nicaragua.
For the past two years Marc’s property tax bill has been $8.67 per month.
According to the Forbes 2009 Retirement Guide, “Rancho Santana is simply stunning”. Along this coast, surf crashes against high cliffs. The roar will fill your senses. Around the corner you’ll find white-sand beaches perfect for swimming. Around the next corner you’ll find some of the best surf beaches on earth. You will struggle to find a more spectacular coastline anywhere.
In Panama qualifying properties come with a tax exemption of up to 20 years. The catch: If you buy a condo, you will be liable for a portion of the tax due on the land the condo sits on. So, instead of $0, you may have a property tax bill between $2 and $2.50 per month.
Editor’s Note: Ronan McMahon is the Executive Director of Pathfinder (International Living’s preferred real estate advertising partner), which focuses on opportunity for gains in strategic pockets around the world-before most folks have even heard of them. He writes for Pathfinder’s real estate investment service, the Real Estate Trend Alert.
See Ronan’s latest video about property investing here.
