The Truth About Property Taxes in Jericó — And Why They’re So Low

Juan Valdez
May 24
3 min read

Introduction The Truth About Property Taxes in Jericó — And Why They’re So Low

When you think about buying property in a charming Colombian town like Jericó, your first thoughts are probably about the stunning views, friendly community, and the peaceful pace of life. But there’s another reason Jericó is turning heads among expats and smart investors: incredibly low property taxes.

And we’re not just talking “slightly lower than the cities”—we’re talking real savings that can add up year after year. The Truth About Property Taxes in Jericó — And Why They’re So Low

What You Need to Know About Property Taxes in Colombia

In Colombia, property tax is known as "Impuesto Predial Unificado"—and it's an annual tax based on the cadastral value of your property (that’s the official valuation done by local authorities, not your purchase price).

Across the country, these taxes generally range from 0.4% to 1.2% depending on the location and type of property. Cities like Medellín and Bogotá tend to sit at the higher end. ([Global Property Guide][1])

But Jericó? It’s a whole different story.

So, Why Are Property Taxes So Low in Jericó?

Let’s break it down:

1. Local Policies That Favor Investors

The local government in Jericó wants people to invest here—and they’re making it easier by keeping property taxes low. The goal is simple: attract homeowners, encourage real estate development, and boost the town’s economy without overburdening owners.

2. Modest Cadastral Values

Compared to larger cities, Jericó’s cadastral property values are lower. Why? Because it's a smaller town with a slower pace of economic development and less speculative buying. That lower assessed value directly translates to lower taxes.

3. Smart Growth, Not Overdevelopment

Jericó is managing its growth wisely. Instead of overtaxing current owners to fund rapid urban expansion, the town is encouraging long-term investment in a sustainable way—with benefits that pass directly to property buyers.

What This Means for You as a Property Owner

Whether you're eyeing a colonial home in the town center or a finca in the hills, Jericó’s low property taxes make a big difference.

Save More Every Year Lower taxes mean more money in your pocket to reinvest in your property, improve your lifestyle, or fund other ventures.
Stretch Your Investment Lower carrying costs make Jericó ideal for long-term property ownership, especially if you’re buying a second home, a rental, or planning for retirement.
Retire in Comfort If you're an expat or retiree, a low-tax environment means you can enjoy a better quality of life on a fixed income—without sacrificing comfort or location.

A Few Smart Things to Keep in Mind

As attractive as low taxes are, here are a few extra considerations for anyone buying property in Jericó:

Factor in Maintenance Costs Make sure you're budgeting not just for the purchase but also for upkeep—especially if you’re buying a finca or an older colonial home.
Watch the Market Property values in Jericó are steadily rising, but they’re still much more stable than in big cities. It’s wise to stay updated on regional trends and talk to a local expert.
Know the Legal Basics Foreigners can own property outright in Colombia, but it’s important to understand the paperwork and registration process. Work with someone who knows the ropes—especially if you don’t speak Spanish