Real Estate Tax
Properties held in the name of an individual, in the Dominican Republic, are subject to an annual tax payment (IPI), whose value exceeds the Six Million Seven Hundred Fifty-Two Thousand Two Hundred Dominican pesos (RD$6,752,200.00). This tax is paid at an annual tax rate of (1%), of the bona fide value of the property, payable in two payments, March 11th and September 11th. If the property is held by a corporation, no property tax is due. Instead, the corporation must pay a 1% tax on corporate assets.
Exempt from the payment of this tax are:
- People over the age of 65, when that housing constitutes the only real estate of their property;
- Pensioners and rentiers of foreign supply (50%);
- Housing, urban land plots not builted and properties intended for commercial activities whose value is less than six million seven hundred fifty-two thousand two hundred pesos (RD$ 6,752,200.00).