What is CRIM?
- Centro de Recaudación de Ingresos Municipales (CRIM): Agency in charge of collecting property taxes in Puerto Rico.
How is property tax paid?
- With mortgage: The bank or credit union sends payment from an escrow account based on your contributions.
- No mortgage: CRIM sends a semi-annual invoice. It is important to keep your contact information up to date.
- Exemption: Applies only if you have a CRIM tax exemption on your principal residence.
What is the exemption for the primary residence?
- Principal residences are exempt from taxes on the value of up to $15,000 according to the CRIM formula.
- The tax rate varies by municipality and is calculated on the excess of the exempt value.
- Example: A property with a market value of $100,000 may be fully exempt according to the value calculated by the CRIM.
What happens if the owner dies or does not live in the residence?
- The waiver may expire if:
- The owners pass away.
- The property ceases to be the primary residence.
- When transferring the property to heirs or new owners, CRIM may retroactively collect taxes, interest and penalties.
- It is important to process inheritances as soon as possible to avoid complications.
- We can evaluate your inheritance case through this link.
How to insure the exemption of my primary residence?
- Initial application: It is submitted at the time of purchase and sale, usually handled by the bank.
- Retroactive: If never applied for, a retroactive waiver can be processed.
- The exemption is maintained only if the property continues to be the principal residence.
What to do when acquiring a property?
- Submit a Change of Ownership Application for CRIM to calculate taxes on the new property.
- The exemptions only apply to the principal residence.
How do I find out the value and number of my property?
- Certification of Value: To know the value granted by the CRIM, which is different from the appraisal value. We can process it using the owner's Social Security number, through this link.
- CRIM Digital Cadastre: System that assigns a unique number to each property. It is essential to register unregistered properties to avoid fines.
Is the information in the CRIM Digital Cadastre reliable?
- The data in the Cadastre often contain errors.
- The CRIM only handles data for property tax collection, while the Property Registry grants title.
- It is advisable to validate the information and hire a lawyer with access to CRIM procedures.
Services available at Abogado Notario Online:
- Management of certifications required in various governmental transactions.
- Procedures related to the Digital Cadastre and adjustments to the CRIM database.
🔍 Questions?
-
- If you have any questions, please fill out the Inquiry Form.
