It is an actual tax levied on Real Estate Properties located within the Capital District of Bogotá and the taxable event is the existence of the property.
The tax is accrued on January 1st every year and it has an annual term comprised between January 1st and December 31st of the same year.
Any individual or corporation who owns or possesses properties located within the Capital District of Bogotá.
The tax base of the Unified Property Tax, from the year 2000, will be the amount determined by the taxpayer through a self-assessment, and it must correspond at least to the cadastral appraisal in force at the moment the tax is levied. However, the owner-taxpayer may determine the tax base in an amount greater than the cadastral appraisal, in which case there will be no juridical ground to claim a correction, in a lesser amount, to the initial statement submitted for that same fiscal year. (Art. 1 of Law 601 of 2000).
The rate is applied according to a series of features of the property such as: category, stratum, self-assessment and adjustments (if provided for). Rates are adjusted annually.