Taxes on the land in Panama are regulated by the Fiscal Code. In accordance with article 763, all property is taxed independently of whether the tenancy or title is registered or not in the Public Registry.
Article 764 of the Code indicates which properties are exempted from property tax. This includes properties whose tax base, including improvements built on it, do not exceed $30,000.00. Alternatively, agricultural lands used exclusively for agriculture and properties registered in the Ministry of Agriculture and Livestock Development valued less than $150,000.00 are also exempted from property tax.