Property taxes in Puerto Rico can feel confusing, especially if your market price and your bill do not match. If you own or plan to buy in San Juan, you want clear steps to understand your CRIM bill, calculate your costs, and avoid surprises at closing. In this guide, you will learn how property taxes are assessed, what affects your total, how to verify your account, and what to do if something looks off. Let’s dive in.
How CRIM property taxes work
CRIM handles property tax administration across Puerto Rico. CRIM determines the assessed value, issues bills, and manages taxpayer accounts. San Juan, like other municipalities, sets municipal tax rates and any local surcharges through its ordinances.
- Use the CRIM account number to look up bills and payment history.
- Each condo unit or parcel has its own account in CRIM’s system.
- For official information and online services, visit the CRIM website.
- For municipal ordinances, rate updates, and local programs, check the Municipality of San Juan.
Assessed value vs. market value
Your home’s market value is what a buyer would pay today. CRIM’s assessed value (valor de contribución) is an internal number used to calculate taxes.
- CRIM evaluates land and building components, using standardized valuation tables and depreciation schedules.
- Condo units are assessed as individual cadastral units, often based on the unit’s percentage in the master plan.
- Because CRIM revaluations happen periodically, assessed values can differ from current market prices.
How your bill is calculated
Your annual property tax uses a simple framework:
- Formula: Annual tax = assessed value × municipal tax rate
- The municipal rate is set by the municipality and may vary by use type, such as residential or commercial.
- Rates and surcharges can change, so verify the current rate with San Juan’s ordinances on the city’s official site.
If you qualify, exemptions and special reductions can lower your bill. Programs may exist for seniors, disabled persons, veterans, historic properties, and certain owner-occupied homes. Check current eligibility and application steps directly with CRIM and the municipality.
San Juan specifics for condos and homes
San Juan includes historic districts, mid-century single-family neighborhoods, and many condominium buildings. Assessment methods and comparable data can vary by location and property type.
- Historic and culturally designated properties may have special treatment. Confirm options with CRIM and the Municipality of San Juan.
- Condo owners typically pay their unit’s CRIM bill directly. Common areas are usually handled through HOA fees rather than as part of your individual CRIM bill.
- Verify that CRIM shows your unit in your name and that the assessed value matches your deed details.
How to verify your CRIM bill
Follow these steps anytime you buy, sell, or review carrying costs:
- Find your CRIM account number on your bill or deed.
- Use the CRIM online services to look up your account and download your current bill and history.
- For closings, request a CRIM certification of taxes paid (certificación de deuda). Sellers typically obtain this to show taxes are current through closing.
- If the account is in another name or has errors, contact CRIM and provide the deed and recent sale documents so records can be updated.
Documents you will often need:
- Deed (escritura pública)
- CRIM bill and certification of taxes paid
- Certificate of no municipal taxes due, if required by the closing agent
- HOA or condo certificate showing common charges and any municipal liens
- Survey or condo master deed showing common interest percentages
Appeals, errors, and late fees
If you believe the assessed value is wrong, start with an administrative review through CRIM. Provide recent comparable sales, a private appraisal if available, and photos or documentation of property condition. If the informal review does not resolve the issue, there is a formal appeal path with deadlines. For current procedures and timelines, consult CRIM’s official site.
Late payments can trigger interest, penalties, and municipal tax liens. Check CRIM’s guidance for current penalty rules and resolve balances as soon as possible to avoid extra costs.
Practical tips for buyers and sellers
For buyers:
- Obtain the CRIM account number and a current certification of taxes paid during due diligence.
- Confirm the seller’s name and the cadastral description match CRIM records.
- Build property tax into your carrying cost analysis along with HOA dues, insurance, and utilities.
- Ask the HOA about any unpaid municipal or condo related liens that could affect closing.
For sellers:
- Request an updated CRIM certification early to avoid closing delays.
- If you believe the assessed value is high, consider a review before listing. Timing matters.
For both:
- Keep a clear record of all tax payments and certificates for your files and your title company.
- Remember that assessed value is not the same as market value. If you seek a reduction, prepare to show comps and an appraisal.
Putting it together: two quick examples
These are illustrative only. Always verify your CRIM assessed value and the current San Juan municipal rate before calculating your bill.
Example A: San Juan condo (illustrative)
- Market price: 250,000 dollars
- CRIM assessed value: 180,000 dollars
- Municipal rate used for example: 0.0075
- Estimated annual tax: 180,000 × 0.0075 = 1,350 dollars
Condo owners often have lower assessed values than larger single-family homes, but HOA fees affect total carrying cost.
Example B: San Juan single-family home (illustrative)
- Market price: 600,000 dollars
- CRIM assessed value: 420,000 dollars
- Municipal rate used for example: 0.009
- Estimated annual tax: 420,000 × 0.009 = 3,780 dollars
Use these examples to plug in your own assessed value and the current municipal rate to estimate your annual property tax.
Resources
Have questions about what your CRIM bill means for your monthly carrying costs or your next purchase in San Juan? Schedule your private consultation with Luis Alejandro Perez and we will pull your CRIM statement and run a personalized carrying cost comparison for your property.
FAQs
Who pays property tax at closing in Puerto Rico?
- Typically the seller pays taxes up to the closing date, and any prepayments or prorations are handled per the purchase contract and the CRIM certification.
How often does CRIM revalue properties in San Juan?
- CRIM performs periodic revaluations, and the timing can vary, so check CRIM for recent activity that could affect assessed values in San Juan.
Can I appeal if my assessed value increases significantly?
- Yes, begin with a CRIM administrative review and, if needed, follow the formal appeals process with documentation such as recent comps and an appraisal.
Do condo assessments differ from single-family homes in Puerto Rico?
- Yes, condo units are assessed as individual cadastral units, and common areas are usually handled through HOA fees rather than each owner’s CRIM bill.
Where do I verify my municipal rate and exemptions in San Juan?
- Review the latest ordinances and any local programs on the Municipality of San Juan site, and confirm eligibility and steps directly with CRIM.
