Urban Transfer Tax – This tax is paid in case of conveyance and is defined by the constant value of the act or contract or on the taxable value of the property, whichever is greater. Stamp duty – 0.8% of the declared amount of the sale, payable to the notary; 0.6% of the mortgage, withheld by the bank; 0.4% of the process opening fees, withheld by the bank. Urban Property Tax – This tax is paid each year, except in case of exemption that can go now up to 8 years in case of permanent housing. It is a tax on the taxable value of the property.