Chile approves property tax exemption for seniors over 65

Chile has approved a property tax exemption for citizens over the age of 65 regarding their primary residence. The measure is designed as a social benefit to recognize the contributions of senior citizens.

Critics of the reform suggest that while the measure provides immediate relief to seniors, it may carry long-term political consequences. There are concerns regarding the distribution of the benefit, as property tax payments are often concentrated in higher-income sectors. Additionally, discussions involve how the state will compensate municipalities for the loss of revenue resulting from the exemption.