Taxes are HIGH in the DR
I think the new tax increase on property taxes is going to slow down the growth of real estate in the DR, Now, if you have a property that is 5 million pesos or more (US$150,000) you have to pay 1% of the excess. So if your property is 6,600,000 pesos (US$200,000) you have to pay taxes on 1.6 million 1% of that is $16,000 pesos or $500.00. After the first of the year therer will be a tax increase instead of 1% it is going to be 2% that means
US$1,000/year for a US$200,000 property. Here in Denver I live in a $350,000 house and pay US$1,400/year. At least over here I see the results of my taxes by having good streets, security, cleanliness, education, etc. Over there one pays taxes to make rich the government officials.