Q: What are property taxes in Nicaragua?

Annual Nicaragua property taxes are 1% of the assessed value of the property. In many planned developments, values are assessed each year on a per meter basis, meaning that your land is worth the assessed square meter value for that planned development multiplied by the number of square meters you own. Land outside of planned developments is also assessed annually, and in areas closer to a municipality will be visited and assessed on a more regular basis. In virtually all cases you will find that the assessed value for tax purposes is lower than the purchase price of your property.