Property Taxes in Puerto Rico: The CRIM Guide
Everything you need to know about understanding, calculating, and paying property taxes in the Caribbean paradise.
How Taxes are Calculated
Property taxes in Puerto Rico are based on the 1957 appraisal value of the property, not the current market value. This is then multiplied by the tax rate of the specific municipality, which typically ranges between 8% and 12% for residential properties.
Important Deadlines
- January 1st: Tax year begins.
- July 1st: First semester payment due.
- January 31st: Second semester payment due.
- Early Payment Discount: Pay within 30 days for 10% off.
Frequently Asked Questions
Q: What if I miss a payment?
A: Interest and penalties accrue monthly from the due date.
Q: How do I update my info?
A: You must file a change form at your local CRIM office or online.
Official Resources
What is CRIM?
CRIM (Centro de Recaudación de Ingresos Municipales) is the municipal revenue collection center in Puerto Rico. It is responsible for assessing, collecting, and distributing property taxes to the island's 78 municipalities.
Tax Exemptions
- Primary Residence: Up to $15,000 of the 1957 value is exempt for primary homes.
- Act 60: Significant incentives for export services and individual investors.
- Agriculture: Partial exemptions for qualifying farms.
Calculations & Tutorials
Explore Related Guides
ACT 60 INCENTIVES
CLOSING COSTS 101
Explore Related Guides
ACT 60 TAX INCENTIVES
CLOSING COSTS 101
BEACHFRONT PROPERTY
TYPES OF LOANS
Example: San Juan Primary Home
Market Value: $500k | 1957 Appraisal: $25k
Exemption: $15k
Taxable: $10k × 10.33% = $1,033 / year
Example: Investment Condo
Market Value: $300k | 1957 Appraisal: $18k
Exemption: $0 (Secondary Home)
Taxable: $18k × 9.5% = $1,710 / year