When purchasing property, there are some added costs during closing that you should consider. One of them is the acquisition tax or transfer tax. This is, in Spanish, “Impuesto Sobre Adquisiciones de Bienes Inmuebles”
This tax went from 2% to 3% as of January 2020. The acquisition tax is calculated on the assessed value of the property. Consequently, it is the responsibility of the buyer.
The increase is and will affect all real estate transactions in process. In other words, your tax percentage may be reassessed before closing.
The Municipality of Solidaridad (which includes Playa del Carmen, Puerto Aventuras, and other communities in between) increased the percentage, so it normalizes with other municipalities in the state.
Please, be aware that your closing attorney has no authority or control over the fee increase.