Property tax in Puerto Rico amounts to approximately 1.5 % of the property value.
The costs involved in the various steps of purchasing and registering the property include $100 for obtaining the property title report, $50 for the property tax certificate, $300 for the corporate resolution, $100 for filing the deed at the Registry of Property, $20 for filing the notice of sale with the Treasury Department, $20 for filing the notice of change of ownership with the CRIM.
In addition to the above charges, the notary fee is 1% of the property value for properties worth up to $500,000 plus 0.5% of any excess over $500,000. This fee can be negotiated.
The cost involved in the procurement of the internal revenue stamps for the original copy is $55 (plus 0.1% of the property value) and for the certified copy is $27.50 (plus 0.05% of property value). The cost of procuring filling vouchers is $10.5 (plus 0.4% of property value).
All costs stated on this page are estimates. This article should not be regarded as offering a complete explanation of taxation and legal matters in Puerto Rico. No person, entity or corporation should rely on this article in whole or in part and readers are advised to obtain comprehensive advice in relation to their personal circumstances from a qualified professional person or firm of advisors prior to taking any action.