Authored by the expert who managed and guided the team behind the Mexico Property Pack
Yes, the analysis of Playa del Carmen's property market is included in our pack
Property taxes in Playa del Carmen are calculated at 0.19% of your condo's cadastral value annually.
The Playa del Carmen condo market offers attractive investment opportunities, but understanding the full tax structure is crucial for your financial planning. Property owners benefit from significant early-payment discounts of up to 25%, while HOA fees typically range from 1,700 to 8,500 MXN monthly depending on amenities and location.
If you want to go deeper, you can check our pack of documents related to the real estate market in Mexico, based on reliable facts and data, not opinions or rumors.
Annual property tax in Playa del Carmen is 0.19% of cadastral value, with cadastral value typically 10-30% of market price.
Total ownership costs include property tax, HOA fees averaging 2,850-5,950 MXN monthly, municipal services around 3,500 MXN yearly, and property insurance ranging from 8,500-25,500 MXN annually.
| Tax/Fee Type | Rate/Amount | Annual Cost Example (3M MXN Condo) |
|---|---|---|
| Property Tax | 0.19% of cadastral value | 4,275-8,550 MXN (with discount) |
| HOA Fees | 2.8-3.5 USD/sqm/month | 20,400-71,400 MXN |
| Municipal Services | 2,000-5,000 MXN/year | 3,500 MXN |
| Property Insurance | 0.3-0.8% of property value | 8,500-25,500 MXN |
| Rental Income Tax (Non-residents) | 25% of gross income | 60,000 MXN (on 240K income) |
| Notary Fees (Purchase) | 0.75-1.5% of purchase price | 22,500-45,000 MXN (one-time) |
| Total Closing Costs | 6-10% of purchase price | 180,000-300,000 MXN (one-time) |
What's the official annual property tax rate for condos in Playa del Carmen?
The official annual property tax rate in Playa del Carmen is 0.19% of the cadastral value of your condo.
This rate is set by the municipal government of Solidaridad, which administers Playa del Carmen. The 0.19% applies specifically to residential properties, including condominiums.
As of September 2025, this rate remains stable and competitive compared to other Mexican resort destinations. The tax is calculated using a simple formula: Cadastral Value Ă— 0.0019 = Annual Property Tax.
It's something we develop in our Mexico property pack.
How is the taxable value of a condo determined in Playa del Carmen?
Property taxes in Playa del Carmen are based on cadastral value, not market value, with cadastral value typically representing 10-30% of actual market price.
Municipal authorities in Solidaridad set the cadastral value through periodic assessments that consider location, size, construction quality, and age of the property. This assessed value is deliberately kept lower than market rates.
For example, a condo with a market value of 3,000,000 MXN might have a cadastral value of only 600,000-900,000 MXN. This significant difference means your actual tax burden is much lower than the 0.19% rate might initially suggest.
The cadastral value appears on your property deed and annual tax bill, and property owners can request reassessment if they believe the valuation is incorrect.
What's the average annual property tax for a 2 million MXN condo?
For a condo worth 2,000,000 MXN, the annual property tax ranges from 2,850 MXN to 3,800 MXN depending on early payment discounts.
Using the cadastral value (typically 20% of market value = 400,000 MXN), the base tax calculation is 400,000 Ă— 0.0019 = 760 MXN annually. However, most properties have higher cadastral valuations, resulting in taxes of approximately 3,800 MXN before discounts.
With early payment in January, you'll pay only 2,850 MXN (25% discount). Payment in February reduces it to 3,230 MXN (15% discount).
This represents roughly 0.14-0.19% of the property's market value annually, making Playa del Carmen property taxes quite affordable for international investors.
How much property tax would you pay on a 5 million MXN condo?
A condo valued at 5,000,000 MXN typically generates annual property taxes between 7,125 MXN and 9,500 MXN.
The base calculation assumes a cadastral value of approximately 1,000,000-1,500,000 MXN (20-30% of market value), resulting in taxes of 1,900-2,850 MXN if the cadastral value were truly proportional. However, higher-value properties often have cadastral values closer to market rates.
Most luxury condos in this price range pay around 9,500 MXN annually before discounts. With the January early payment discount of 25%, this reduces to 7,125 MXN.
Even at the higher end, this represents only 0.19% of the property's value, maintaining Playa del Carmen's reputation for low property tax rates on premium real estate.
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What early-payment discounts are available on property taxes?
Playa del Carmen offers substantial early-payment discounts ranging from 15% to 25% on property taxes.
| Payment Period | Discount Rate | Example Savings (on 9,500 MXN tax) |
|---|---|---|
| January 1-15 | 25% | 2,375 MXN (pay 7,125 MXN) |
| January 16-31 | 20% | 1,900 MXN (pay 7,600 MXN) |
| February 1-28 | 15% | 1,425 MXN (pay 8,075 MXN) |
| March onwards | 0% | 0 MXN (pay full 9,500 MXN) |
| Vulnerable groups* | 50% | 4,750 MXN (pay 4,750 MXN) |
| Senior citizens (60+) | 30% | 2,850 MXN (pay 6,650 MXN) |
| Disabled persons | 50% | 4,750 MXN (pay 4,750 MXN) |
*Vulnerable groups include senior citizens over 60, disabled persons, and low-income households meeting specific criteria.
What are the notary fees when buying a condo?
Notary fees in Playa del Carmen range from 0.75% to 1.5% of the purchase price, typically closer to 1.5% due to market demand.
For a 3,000,000 MXN condo, expect notary fees between 22,500 MXN and 45,000 MXN. The notary fee is calculated on the higher of either the purchase price or the cadastral value.
These fees cover the notary's services including title verification, contract preparation, tax calculations, and property registration. In competitive markets like Playa del Carmen, notaries often charge at the upper end of the range.
Additional notary expenses may include document translation, apostille services, and coordination with banks for fideicomiso setup if you're a foreign buyer.
It's something we develop in our Mexico property pack.
How much are annual HOA fees for condos in Playa del Carmen?
Annual HOA fees in Playa del Carmen average between 2.8 and 3.5 USD per square meter per month, translating to approximately 47-59 MXN per square meter monthly.
For a typical 80-square-meter condo, monthly HOA fees range from 3,760 to 4,720 MXN (45,120 to 56,640 MXN annually). Luxury developments with extensive amenities can charge 100-500 USD monthly (1,700-8,500 MXN).
HOA fees typically cover building maintenance, security, pool and gym maintenance, common area utilities, insurance for common areas, and often garbage collection. Beachfront properties generally have higher fees due to saltwater corrosion and hurricane preparation costs.
New developments often start with lower advertised fees that increase once the building is fully occupied and actual operating costs are established.
What's the annual garbage collection or municipal service fee?
Municipal service fees in Playa del Carmen cost between 2,000 and 5,000 MXN annually for residential condos.
Many condominiums include these fees within the HOA charges, but standalone condos or those in smaller developments may receive separate municipal bills. The average cost is approximately 3,500 MXN per year.
These fees cover garbage collection, street cleaning, public lighting maintenance, and basic municipal services. Properties in central Playa del Carmen typically pay at the higher end due to more frequent collection schedules.
Payment is usually due quarterly or annually, and early payment discounts of 10-15% are sometimes available for annual payments made in January.
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Are there additional yearly federal or state taxes on condos?
There are no additional annual federal or state property taxes applied to condos in Playa del Carmen beyond the municipal property tax.
Foreign owners must pay annual fideicomiso (bank trust) fees of approximately 500-700 USD (8,500-11,900 MXN) to maintain their property ownership structure. This is a banking fee, not a government tax.
Mexican residents and corporations don't pay fideicomiso fees, making this the only significant additional annual cost specific to foreign ownership. The fideicomiso is mandatory for foreigners owning property within 50 kilometers of the coast.
Some developments may have special assessment fees for infrastructure improvements, but these are project-specific and not regular annual taxes.
What percentage of rental income is taxed for condo owners?
Non-resident property owners pay 25% flat withholding tax on gross rental income in Playa del Carmen.
For 20,000 MXN monthly rental income, the tax is 5,000 MXN per month (60,000 MXN annually). This 25% rate applies to the full rental amount before any deductions for expenses or maintenance.
Mexican tax residents can elect to pay income tax on net rental income (after allowable deductions) at progressive rates from 0% to 35%, which is often more favorable for high-earning properties.
Property management companies typically handle tax withholding and remittance for non-resident owners, charging additional fees of 8-12% of rental income for this service.
It's something we develop in our Mexico property pack.
What are the total closing costs when purchasing a condo?
Total closing costs in Playa del Carmen typically range from 6% to 10% of the purchase price.
- State acquisition tax (ISABI): 3-4% of purchase price in Quintana Roo
- Notary fees: 0.75-1.5% of purchase price
- Property appraisal: 3,000-8,000 MXN
- Title insurance: 0.5-1% of purchase price
- Legal fees: 1-2% of purchase price
- Bank trust setup (foreigners): Approximately 2,000 USD
- Registration fees: 1,500-3,000 MXN
- Due diligence and documentation: 5,000-15,000 MXN
For a 3,000,000 MXN condo, expect total closing costs between 180,000 and 300,000 MXN. Foreign buyers typically pay at the higher end due to fideicomiso requirements and additional legal documentation.
How much does property insurance cost annually for a 3 million MXN condo?
Property insurance for a 3,000,000 MXN condo in Playa del Carmen costs between 8,500 and 25,500 MXN annually (500-1,500 USD).
The cost depends on several factors: proximity to the coast (hurricane risk), building age and construction quality, coverage limits, and included perils. Beachfront properties pay premium rates due to hurricane and flood exposure.
Basic coverage typically includes fire, theft, natural disasters, and civil liability. Comprehensive policies add hurricane damage, flooding, and temporary relocation expenses. Many lenders require insurance as a loan condition.
Insurance costs represent approximately 0.3-0.8% of the property value annually, with newer buildings in gated communities qualifying for lower rates due to better security and construction standards.
Conclusion
This article is for informational purposes only and should not be considered financial advice. Readers are advised to consult with a qualified professional before making any investment decisions. We do not assume any liability for actions taken based on the information provided.
Property ownership costs in Playa del Carmen remain competitive compared to other international resort destinations, with annual carrying costs typically representing 2-4% of property value.
The combination of low property taxes, reasonable HOA fees, and favorable early-payment discounts makes Playa del Carmen an attractive market for both investment and personal use properties.
Sources
- Plalla - How to Calculate Property Tax in Mexico
- Caribbean Dream Real Estate - Property Tax Calculation
- PIM Riviera Maya - Average House Prices
- The LatInvestor - Property Taxes in Mexico
- Riviera Maya Cozy - Notary Fees
- Buy Playa - Closing Costs Guide
- Caribe Luxury Homes - Total Buying Costs
- The LatInvestor - House Costs in Playa del Carmen