Mexican owners pay an annual actual property tax, generally known as predial, to their native municipality. This tax relies on the assessed worth of the property, which considers components like location, measurement, and development supplies. Whereas distinct from property taxes in different nations like america, it serves an identical perform in funding native authorities companies.
Municipal income derived from this tax is essential for funding important public companies comparable to infrastructure upkeep, sanitation, public security, and neighborhood growth. The tax’s constant assortment ensures the monetary stability and operational capability of native governments to supply these important companies. Its historic context is deeply rooted in Mexico’s system of municipal governance, offering a secure income stream for native authorities.