Puerto Vallarta, Jalisco, Mexico - Property taxes. Just the words make most Canadian and American homeowners nervous about potential damage to their bank balance, but in Mexico you don't need to worry.

Property taxes for homes and condos in the Banderas Bay region and throughout Mexico are exceptionally affordable, with a single-family home in an area like Fluvial Vallarta only owing around 3000 pesos in annual taxes.

Additionally, if you pay your property taxes in January or February, you will receive a 15% discount off your bill. If this is your first time paying your property taxes in Puerto Vallarta, here is what you need to know:

• Property taxes may be paid at either City Hall or at UNIRSE in Fluvial.

• You will need a copy of the account number from your previous year's property taxes. If you are a new owner, the tax form from the previous year should be included in the documents you were provided by your notary at the closing of your sale. If not, bring the deed to your home with you to City Hall or UNIRSE.

• Taxes can be paid via cash, credit or debit card; however, you may not pay using a foreign card, only a bank or credit card issued by a Mexican bank.

• File your receipt safely away, both as proof of payment and to easily access your account number for the following year.

You may also pay your property taxes using the online system, which is available in both English and Spanish, at enlinea.puertovallarta.gob.mx, but keep in mind that it will not accept payments made with a foreign credit card.

Whichever way you pay, your property taxes in Mexico aren't going to make nearly the dent in your wallet that they would in other parts of North America, so you can enjoy the holiday season without the worry of a large tax bill looming.

It's just another great benefit of living in Puerto Vallarta.