Yearly Real Estate/Property taxes

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MommC

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Mar 2, 2002
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Ok....I know I read something about this on the board but I haven't been able to turn it up in a search.....
What are the 'rules' on property tax?
Last I heard taxes were owing on vacant property, property valued at over $100,000 US, or property 'rented' out to obtain income regardless of the actual valuation of the property.

I' ve recently been told that you must take your 'titulo' to some (??don't know which one) government office so they can look it up and tell you if you need to pay tax. I was also told that this needed to be done before the 31st of March this year or heavy interest rates would be charged on taxes owing if indeed you need to pay.

Can anyone clarify this or tell me more about it??
Thanks....
 
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A.J.

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We had received a notice that we our housed needed to be assesed for tax purposes. We were supposed to have an assesor come to our house in Costambar 2 timesbut they never showed. The value on the house if I remember correctly was 1,000,000 pesos to warrant taxes and our house is nowwhere near that unless we have some crazy inflation hit again.
 
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A.J.

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Here was the response from Mr. Guzman in the other post I had about property Tax:

Real estate in the Dominican Republic is subject to an annual property tax (?IVSS?) of 1% of appraised market value in excess of RD$5,000,000 pesos, payable every year on or before March 11. For example, a home or building appraised at RD$8,000,000 pesos will pay RD$30,000 pesos annually (RD$8,000,000 - RD$5,000,000 x 1%). It is possible to make two payments instead of one. In that case, 50% should be paid before March 11 and the balance before September 11.

The following properties are exempt from this tax:

(1) Properties valued at RD$5,000,000 or below.
(2) Unbuilt lots or farms outside city limits.
(3) Property whose owner is 65 years old or older, who has owned it for more than 15 years and has no other property in his or her name.
 
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MommC

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Thanks A.J. Now for one more question.....

If you rent out a property, what taxes are payable???
Is there a business tax or income type tax to be paid??
 
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comunifan

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Well i work in DGII (Direccion General de Impuestos Internos) in Sosua, but before to pay the taxes you have to go to Direccion General de Impuestos Internos (DGII) in Puerto Plata, in front of Casa Nelson, Tel. 809-586-2270, 2012, to declarate the property. They have to tell you how much you have to pay in taxes for your property. i think you have to show the title, because they must to know: Where is the property, how many m2 have the property,...bla, bla, bla
When you be there, in DGII, ask some employed, where is Tasation Department and ask for Ing. Sosa, that is the department in this case.

I hope to help you with this Information.

Julio.
 
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MommC

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Thank you comunifan......

I had heard that everyone must go to 'declare' their property to see if taxes are payable.

If the property is valued at less than $5,000,000 pesos must one still go to 'declare' the property?
 
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MommC

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Thank you comunifan......

I had heard that everyone must go to 'declare' their property to see if taxes are payable.

If the property is valued at less than $5,000,000 pesos must one still go to 'declare' the property?

Also is this a different tax than the IVSS tax??
 
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