Taxes in Mexico

The seller pays almost no taxes for the sale if it is their permanent home and can demonstrate that with utility bills in their name and identification listing the property as their domicile.  If it is income property or an unimproved lot, the taxes to the seller are a 26 percent tax (impuestos sobre la renta) of the sales price or property appraisal, whichever is highest. And the buyer pays 4.3% of the sales price. Appraisals on Mexico homes for sale are typically one half the sales prices.

Therefore, many sales contracts are written in the Notario’s office that reflects a sales price close to the appraisal and not the actual sales price. To reduce the tax burden, buyer and seller agree to pass the purchase difference “under the table”. 

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