I'm confused as to how the property tax will be calculated. According to an article by Listin Diario and available on the DGII site here, all real properties valued under RD$5 million are exempt from any tax burden but properties valued at or above RD$5 million are levied 1% of???
Perhaps the question should be: Does the exemption amount apply equally to all properties or do properties that exceed the exemption amount are exempt from the exemption (no pun intended)?
One more thing, I understand that Catastro will be in charge of property appraisal but how and when? The first payment is due by March 11, 2009. I really would like to wrap my head around this and SOON 'cause the penalties are stiff. I don't want to miss the payment deadline.
Should this be in the legal forum?
NotLurking
- total property value?
- property value minus the exemption amount of RD$5 millions for properties that exceed the exemption amount?
Perhaps the question should be: Does the exemption amount apply equally to all properties or do properties that exceed the exemption amount are exempt from the exemption (no pun intended)?
One more thing, I understand that Catastro will be in charge of property appraisal but how and when? The first payment is due by March 11, 2009. I really would like to wrap my head around this and SOON 'cause the penalties are stiff. I don't want to miss the payment deadline.
Should this be in the legal forum?
NotLurking