Commments from owners:
We have an oceanfront property in Porto Antigo 2 that we bought only in May 2010.
In April this year, I was in Camara Municipal several times to pay our IUP for the first time. I was quoted the amt. of ESC97.709 and thought this was a mistake. It was too high compared to what other property owners declared to be paying. I know that many have under-declared the value of their property for tax reasons but we did not.
If I think that in 5 years I would be paying some 45,000Eur just in tax, that's already the value of a nice studio flat. I strongly believe that Cape Verde will be killing the "hen that lays the golden egg" by imposing this exorbitant IUP. I can understand that we pay as much in Europe, but we do get a lot in exchange, in terms of communal services i.e. garbage disposal, stable water and electricity supply, good TV program choices, etc. We are already paying expensively in condominium monthly fees. Adding a high IUP tax does not really make Cape Verde living any easier............by Sheilah Kälfors- 22.5.11
