By Wendy Anders

If your house or condominium is valued at more than $231,000 you likely are required to pay an annual tax to the Costa Rican treasury, reported tax officials this week.

Homeowners have until January 16 to pay their 2017 dues.

Forms are available online to declare and submit payment at www.hacienda.go.cr or at public banks.

Houses valued from $231,000 (126 million colones) to $579,000 (316 million colones) are levied a 0.25 percent tax.

Those in the highest bracket, for houses valued at over 1.9 billion colones, owe 0.55 per cent, said tax officials.

A certified public accountant experienced in real estate can help you determine which bracket your house falls into based on its listed market value.

The money collected from the luxury tax is destined to low-income housing in Costa Rica, said the treasury department.