Chile's UTM (unidad tributaria mensual, or monthly tax unit) is worth 72,440 pesos in November 2026, according to the [Internal Revenue Service](https://www.sii.cl/valores_y_fechas/utm/utm2026.htm) (SII). In October it was 72,151 pesos, so it rose 289 pesos, or 0.4%, the same as September's CPI. The UTA, the annual tax unit, is twelve times the UTM: 869,280 pesos in November.
The UTM is a unit of account adjusted every month for inflation that the state uses to set taxes, fines, fees and benefits, so they stay current without changing the laws. This guide explains what it is, how it is calculated, its monthly values and how it affects you.
What the UTM is worth in 2026, month by month
| Month of 2026 | UTM (pesos) | UTA (pesos) | CPI that adjusted it (month) |
|---|---|---|---|
| January | 69,751 | 837,012 | 0.3% (November 2025) |
| February | 69,611 | 835,332 | −0.2% (December 2025) |
| March | 69,889 | 838,668 | 0.4% (January) |
| April | 69,889 | 838,668 | 0.0% (February) |
| May | 70,588 | 847,056 | 1.0% (March) |
| June | 71,506 | 858,072 | 1.3% (April) |
| July | 71,649 | 859,788 | 0.2% (May) |
| August | 71,649 | 859,788 | 0.0% (June) |
| September | 71,721 | 860,652 | 0.1% (July) |
| October | 72,151 | 865,812 | 0.6% (August) |
| November | 72,440 | 869,280 | 0.4% (September) |
| December | Published after October's CPI | October CPI |
Source: SII, UTM-UTA-CPI 2026 table and 2025. The CPI column is our own calculation from the monthly changes published by the SII: each UTM equals the previous month's value times the CPI change of two months earlier. That is why the UTM can fall, as in February 2026, when December's CPI was negative.
What the UTM is and how it is calculated
Chile's Tax Code defines the tax unit as an amount of money "determined by law and permanently updated" that serves as a tax benchmark. In practice:
- Monthly adjustment: each month's UTM is the previous month's plus the CPI change of two months earlier. Example: November's UTM (72,440) is October's (72,151) plus September's 0.4% CPI.
- UTA: the month's UTM times twelve. It is used for annual taxes and company revenue thresholds.
- Who publishes it: the SII posts it in advance; the INE produces the CPI that feeds it. See what the CPI is.
Do not confuse it with the UF, which is adjusted daily and mainly used for mortgages and rents (explained in what the UF is). The UTM changes once a month and lives in the world of taxes and fines.
What the UTM is used for
| Use | How it applies | Value in pesos with the November UTM |
|---|---|---|
| Tax on wages (second category) | Exempt up to 13.5 UTM a month | 977,940 |
| Minor traffic fines | 0.2 to 0.5 UTM | 14,488 to 36,220 |
| Less serious fines | 0.5 to 1 UTM | 36,220 to 72,440 |
| Serious fines | 1 to 1.5 UTM | 72,440 to 108,660 |
| Very serious fines | 1.5 to 3 UTM | 108,660 to 217,320 |
| Municipal fees | Driver's licenses, permits and business licenses are set in UTM by local ordinances | Varies by municipality |
Sources: SII, second-category tax and Chilevisión, which summarizes the Traffic Law fine brackets. Peso amounts are our own calculation with the November 2026 UTM. An example of a municipal fee in UTM is in how much a driver's license costs.
Wage tax brackets
The single second-category tax, withheld from wages, uses brackets set in UTM. With the November 2026 UTM, the SII monthly table is:
| Monthly taxable income (pesos) | Marginal rate | Maximum effective rate |
|---|---|---|
| Up to 977,940 (13.5 UTM) | Exempt | 0% |
| 977,940 to 2,173,200 (30 UTM) | 4% | 2.20% |
| 2,173,200 to 3,622,000 (50 UTM) | 8% | 4.52% |
| 3,622,000 to 5,070,800 (70 UTM) | 13.5% | 7.09% |
| 5,070,800 to 6,519,600 (90 UTM) | 23% | 10.62% |
| 6,519,600 to 8,692,800 (120 UTM) | 30.4% | 15.57% |
| 8,692,800 to 22,456,400 (310 UTM) | 35% | 27.48% |
| Over 22,456,400 | 40% | Over 27.48% |
Source: SII, November 2026 table. Because brackets are in UTM, they rise automatically with inflation. For the legal floor, see Chile's minimum wage.
How much it has risen in the past year
Between November 2025 (69,542 pesos) and November 2026 (72,440 pesos), the UTM rose 4.2%. So far in 2026, since January, it is up 3.9%. It is the same inflation measured by the CPI and the UF, with a two-month lag. December 2026's value will be known when the INE publishes October's CPI in early November.
Frequently asked questions
What is the UTM worth today?
72,440 pesos in November 2026, according to the SII. It was 72,151 pesos in October.
How much is 1 UTM in Chilean pesos?
72,440 pesos in November 2026. Multiply the number of UTM by that value: 3 UTM are 217,320 pesos.
What is the UTA worth in 2026?
869,280 pesos in November 2026, or 12 times that month's UTM.
How often does the UTM change?
Once a month, adjusted for the CPI of two months earlier; it can fall if that CPI was negative.
What is the difference between the UTM and the UF?
The UF changes daily and is used for loans and rents; the UTM changes monthly and is used for taxes, fines and fees.
