Owners of real estate property in the municipality of Chapala can anticipate a hard blow to their pocketbooks next year under the terms laid out in the draft of the 2023 Ley de Ingresos (Revenue Law) approved this month by majority vote of the City Council.
If ratified by the state legislature, where the proposed revenue rates are now under review, the Chapala government will raise the table of property values for urbanized land by as much as 88 percent and ten percent on rustic undeveloped properties. That will translate into steeper bills paid to Catastro, the municipality’s land registry office, particularity for properties located between Ajijic and San Antonio Tlayacapan that already generate the greatest income for the local government’s coffers.
Chapala’s updated Ley de Ingresos will also allow for a 100-percent raise for construction licenses that will evidently have a significant financial impact on new housing developments and the real estate market as a whole.
In contrast, municipalities in the Guadalajara metro area have approved increases in property values that do not exceed 17 percent over the 2022 rates.
Chapala’s revenue bill also sets a general boost of ten percent for the other government fees and tariffs the government will collect next year.
Overall, City Hall expects to bring in 440,130,705 pesos to the coffers for the 2023 budget. That includes around 65 million pesos in predial property taxes and 53 million more for transmisones patrimonales (transfers of property ownership titles). In addition, the issuance of municipal licenses is expected to generate revenues of approximately 25 million pesos.