Law 66 of 2017, which regulates property taxes, introduces the concept of Family Tax Patrimony. That it is nothing more than your house, apartment, the place where you usually live with your family. Every property that is registered as Family Tax Patrimony will enjoy several benefits, sucha as, the first $120,000 of the property’s value are exempt from the property tax. Another benefit is decrease in the tax rate, in fact, 80% lower than the previously established Property Tax Rate. If you need counseling on these and other legal matters do not hesitate to contact us at CLD Legal we are here to serve you.