• Costa Rica Coffee Guide

Lawmakers approve tax exemption on agricultural land

August 21, 2012

After reaching and agreement with farmers’ groups and municipal officials, lawmakers on Monday night approved in a first round of debate Bill 18,070, which would reduce property taxes for land used in agriculture.

The bill received a unanimous vote from all 49 lawmakers present during voting, and groups of farmers across the country suspended protests planned for Tuesday.

Lawmakers also unanimously approved a replacement text for the bill. The new text establishes that the calculation of taxes on farmland will be based on the historical value of farms, and eliminates the rates fixed by the Finance Ministry in 2008, which required farmers to pay the same tax amount as commercial real estate, tourism or housing developments. Read more in this Friday’s edition of The Tico Times.

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