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Our Office |
 Prima Casa Real EstateJ.E. Irausquin Blvd. 330 Palmbeach, Aruba (In front of The Mill) 00297 586 33 50
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Buyers Information - Part I
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Houses on Leased Land
Long-lease fee is applied only to long lease properties. The Government of Aruba through Domain Control (Directorate of Land Administration) gives out the long-lease properties. The long-lease properties are given out for a period, usually, of 60 years. The long-lease fee is determined at the beginning of the contract and is fixed for the duration of the long-lease period. The long-lease fee is collected yearly and is 6% of the appraised value, determined by Directorate of Land Administration. The fee varies based on location and size of property and is fixed for the period of 60 years. Long-lease fees range between $200.00 and $600.00 per year. Property taxes
You have to pay real estate property tax on all real estate property, each year. The Tax Department appraises the value of your property (your house and land)deducts $33,707.00 (fixed deductible) from the appraised value, and taxes 0 .4 % (4 pro-mille) from the balance. Example: | House appraised by Tax Department at: | US$ 200.000,-- | | Deductible: | US$ 33.707,-- | | Total | US$ 166.293,-- | | 0.4% of Total: | US$ 665,17 (per year) |
If you own a house on a long-lease land, in addition to the long lease fee you also have to pay real estate property tax.
The Tax Department reviews real estate property tax every five years. Click here to continue... |
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