Property Taxes in Puerto Rico – An Opportunity
In Puerto Rico, the valuation, invoicing and collection of property taxes is managed by the Center for the Collection of Municipal Taxes, which is normally referred to as “the CRIM” its acronym in Spanish.
Recently, the Government of Puerto Rico approved amnesty on past due taxes, which allows for the payment of this taxes without penalties and interests. CRIM is actively pursuing the collection of these taxes.
Paying this tax with the benefits of the amnesty may proof to be a challenge on itself. CRIM is known for poor recordkeeping and long lines. The process to correct the registration of a property and the tax status is quite sloooooow and may require long lines and long hours. It is important that you bear this in mind, for if you want to benefit from the amnesty you need to act sooner rather than later.
The amnesty is set to expire on November 28, 2010.