As previously reported, the Agustín Codazzi Geographic Institute (IGAC) issued Resolution 0384 of 2026 on April 9, which allows the IGAC’s territorial offices to adjust the percentage increases of cadastral valuations for the 2026 fiscal year through general administrative acts that determine the valuation of rural properties by Geoeconomic Homogeneous Zones. The deadline to review the valuation amounts will be extended until June 30 of this year.
The reduction in the increases of self-assessed valuations must be published in the Official Gazette.
This reduction does not necessarily affect the amount payable for property tax in 2026:
If, as was the case in most municipalities, the increases in cadastral valuations were so high that the property tax assessments had to comply with the maximum caps established by law, it is necessary to review the application of the caps on the increase of property tax from one year to the next, in parallel with the submission of requests for adjustment to the valuations.
- Article 2 of Law 1995 of 2019 establishes that property tax on properties whose valuation is updated annually may not increase from one year to the next by a percentage exceeding the Consumer Price Index plus eight percentage points.
- The same provision establishes that property tax on properties whose valuation has not been updated may not increase by more than 50% of the valuation for the immediately preceding year.
- Additionally, Article 2 of Law 1995 of 2019 establishes that the increase in tax for housing in strata 1 and 2 may not exceed 100% of the Consumer Price Index increase.
- On the other hand, Article 6 of Law 44 of 1990 establishes that the property tax resulting from the new valuation may not exceed twice the amount assessed for property tax in the previous year
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