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Thread: Property Taxes

  1. #11
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    Good information.
    If this is real, it may well be time to look around for a deal.


    Sent from my iPad using Tapatalk HD

  2. #12
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    Confirmed also. I don't pay property taxes on either of my properties. I hope it stays that way. Haha

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  4. #13
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    Wait to see the "Transferencia" taxes when you sell!!!!!!!
    CCCCCCCCCC

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  6. #14
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    Quote Originally Posted by AlterEgo View Post
    Mr. AE's cousin was here a couple of weeks ago, he's the owner of a Real Estate company in SD. We got to talking about the fact that houses in the campo are/were exempt from RE taxes. I haven't heard this anywhere else, but he said that DR is now combining RE assets for taxation. In other words, people with homes in SD [which are taxable] and also own a home in the campo somewhere for weekends, have the value of the campo home added to their taxes. Whereas someone like us with just a home in the campo is exempt.

    He says because of this some people are selling their weekend retreats. Probably some good buys out there.
    which is why you divide your assets between family members, if you can each other.

  7. #15
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    Quote Originally Posted by Criss Colon View Post
    Wait to see the "Transferencia" taxes when you sell!!!!!!!
    CCCCCCCCCC
    Don't wreck my high! Hahha

  8. #16
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    Quote Originally Posted by jr46812000 View Post
    correction: "cadastral value is much less than market value.
    I saw this comment as well but is still subject to Dominicanisms. I paid what was considered a little less than market value based on comparables etc.
    The no tax limit i believe now is 6.5m pesos, at that time it was 5m pesos I believe. I paid about 8ish plua invested a fair bit as terminations were not complete.
    The "cadastral value" was somewhere in the 10+ million area. So maybe they maid a typo and they actually grease you far above the 'cadastral or market value". Just another screw the gringo event i guess.

  9. #17
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    Quote Originally Posted by jr46812000 View Post
    Greetings all,
    I am researching hard to see if a vacation rental / eventual residence in Sosua or Cabarete area would be a
    good investment for me. I was reading about property taxes. The price range I am looking at is $USD200,000 -
    250,000. It is my understanding that property taxes are only levied for the excess amounts over DOP$ 6.5 M
    (USD 150,000). However, I also understand these amounts are based on "cadastral" value which is often much less. Can anyone confirm or correct this for me or share any personal experiences? Thanks.
    Yes you are correct. There will be no annual property taxes at this value. I believe you pay some tax down the road if you decide to sell. When looking an investment property just make sure security is sufficient in the neighborhood you are in. If you will not be in the DR then make sure you have a property manager who you can rely on to take car of any problems that come up. Good luck and good travels.

  10. #18
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    Quote Originally Posted by jr46812000 View Post
    Greetings all,
    I am researching hard to see if a vacation rental / eventual residence in Sosua or Cabarete area would be a
    good investment for me. I was reading about property taxes. The price range I am looking at is $USD200,000 -
    250,000. It is my understanding that property taxes are only levied for the excess amounts over DOP$ 6.5 M
    (USD 150,000). However, I also understand these amounts are based on "cadastral" value which is often much less. Can anyone confirm or correct this for me or share any personal experiences? Thanks.
    I have a property valued at USD$200k located in Santo Domingo, and I pay for it around USD$260 twice a year (This tax is called IPI). If I don't pay the tax twice a year or yearly when I decide to sell it I have to pay all the accumulated taxes plus interest...

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