One of the greatest benefits of buying Mexican real estate is the low property taxes that are charged there. This can not be understated and is a major factor for most of our clients in choosing Mexico as their place for retirement or their second home. The property tax for Mexico real estate ranges from .0275% to 1.350% depending on the location of the property.
That means that on a $350,000 property you could have an annual property tax as low as $96.25.
This is a giant savings when compared to the United States. Yes your closing costs are higher in Mexico than they are in the United States but you will defiantly make that up in the long run with such low property taxes. This is an important key when you are factoring in the total cost to living in Mexico compared to the United States. By keeping the property taxes so low, Mexico is encouraging property ownership not only to Mexican citizens but to foreign buyers as well.