Cozumel's local finances are feeling the impact of a new Protected Natural Area in Calica. The federal government's recent decree to create this area is affecting the revenue collected by the island municipality.
Javier Villanueva, the municipal treasurer, explained that the council will lose a portion of its property tax revenue. This loss will be equivalent to the tax collected from the area occupied by Vulcan Materials. The company has been extracting stone materials from a section of the island's continental shelf for decades.
Villanueva was unable to provide an exact figure for the annual loss, but he emphasized that it would be substantial. According to data from his predecessor, the Cozumel government receives 1.8 million pesos from Calica's operations and an additional 3.5 million pesos every two months. This additional income comes from the use, enjoyment, and utilization of the Federal Maritime Land Zone.
However, now that the area has been declared a Protected Natural Area, the entire perimeter will be exempt from tax. The exact financial impact on the council is still being analyzed.
Discover more from Riviera Maya News & Events
Subscribe to get the latest posts sent to your email.