revaluations, even though values have tripled.
It’s difficult to imagine what the property taxes on our villa would be if it were located in Malibu. As another note of interest, you pay no capital gains tax on the sale of property in PV if you can show that it was your primary residence for more than five years. On the downside, mortgages are somewhat difficult to obtain and therefore, most properties are paid for in full upon purchase. Also, when living on the Mexican Riviera, foreigners do not receive title and deed to their property. Instead, the property is held in a 50 year trust where we have the exclusive right to usage. Unfortunately, we’ll probably not survive the 50 year period, however if we do, it will be automatically renewed for another 50 year period. Upon death, our heirs receive the trust and can renew it for another 50 years. Upon sale,