Understanding CRIM and Property Taxes When Selling in Puerto Rico

SEO Focus: CRIM Puerto Rico, real estate taxes PR

If you’re planning to sell a home or property in Puerto Rico, you’ve probably heard the word CRIM mentioned more than once. But what exactly is CRIM? And how does it affect your sale?

Whether you’re selling your primary residence, an investment property, or inherited land, understanding your tax obligations is key to a smooth and successful transaction. In this guide, we’ll break down how CRIM works, what property taxes you may owe when selling, and how Puerto Rico Real Estate, PSC helps you navigate it all with confidence.

What Is CRIM in Puerto Rico?

CRIM stands for Centro de Recaudación de Ingresos Municipales, or the Municipal Revenue Collection Center. It is the government agency responsible for:

• Assessing and collecting property taxes

• Managing exemptions

• Issuing property debt certifications

• Providing the “Estado de Cuenta” (account statement) needed for real estate closings

If you own property in Puerto Rico, you're required to register it with CRIM and pay your annual property tax bill.

What Happens with CRIM When You Sell a Property?

Before you can close on the sale of your property, CRIM must:

• Confirm that your property tax account is up to date

• Provide a zero-balance certification or proof of debt

• Issue a property appraisal (tasación fiscal) if required

• Certify any applicable exemptions or debts attached to the property

Your notary attorney will not proceed with closing unless these CRIM documents are in order.

How Are Property Taxes Calculated in Puerto Rico?

Property taxes in Puerto Rico are calculated based on:

1. CRIM-assessed value — Not necessarily the market value

2. Tax rate — Usually around 8.03% of the assessed value

3. Applicable exemptions — Such as the “exoneración de hogar” (primary residence exemption)

Most homeowners pay CRIM bills semiannually, typically in January and July.

Common CRIM Issues Sellers Face

Unfortunately, many sellers are unaware of CRIM requirements until they’re weeks away from closing. Common issues include:

• Unpaid property taxes

• Unregistered improvements or additions

• CRIM account under a deceased owner’s name

• Incorrect or outdated property descriptions

• Missed exemption renewals

• CRIM debt being passed to the buyer

Delays caused by CRIM problems can easily postpone or cancel a closing.

How Puerto Rico Real Estate, PSC Helps You Prepare

We help our clients prepare for a successful sale from day one—including reviewing all CRIM-related documents.

Here’s how we support you:

• ✅ Verify your CRIM balance and request the official account statement

• ✅ Request the “Certificación de Deuda” or “Estado de Cuenta” in advance

• ✅ Coordinate with attorneys and notaries to ensure all tax paperwork is filed correctly

• ✅ Guide you through property tax payments if you have pending amounts

• ✅ Help you correct account names or descriptions to avoid title issues

• ✅ Advise on how exemptions impact your sale (especially if you’ll owe retroactive taxes)

Our goal is to avoid any surprises during closing—and to save you time, money, and stress.

What If You’re Selling a Property Inherited or Bought Long Ago?

If the property is still under a parent or grandparent’s name—or if you bought it cash years ago but never updated CRIM—there may be:

• Back taxes due

• Name or title discrepancies

• Unregistered improvements that affect the tax value

In these cases, we’ll help guide you through the legal and administrative steps to bring everything current before listing the property.

Do I Need to Pay Capital Gains Tax in Puerto Rico?

Capital gains tax is separate from CRIM and handled through Puerto Rico’s Departamento de Hacienda (Treasury Department). However, it is still an important part of the transaction, especially if:

• You’re selling an investment property

• You’ve owned the home for a long time and the value has significantly appreciated

• You are a non-resident seller

We work closely with accountants and legal professionals to guide you through any capital gains implications as part of your sale.

CRIM-Related Documents Needed for Closing

To ensure your transaction goes smoothly, you (or your notary) will need to obtain:

• ✅ “Certificación de Deuda” from CRIM

• ✅ Updated property tax receipts

• ✅ Tasación fiscal (if needed)

• ✅ Proof of exemption (if applied)

• ✅ CRIM registration under the correct owner name

📋 Pre-Sale CRIM Checklist:

✅ Verify property is registered in your name
✅ Check CRIM balance (zero owed)
✅ Review any exemptions or discounts
✅ Register any unrecorded improvements
✅ Gather your latest CRIM statements
✅ Share all tax documents with your agent and notary

📞 Let’s Sell Your Property Without Tax Surprises

Don’t let CRIM hold up your sale. At Puerto Rico Real Estate, PSC, we help you prepare your property legally, financially, and strategically—so you sell with confidence.

Contact Puerto Rico Real Estate, PSC:

📱 Call or Text: 787.244.6364
📧 Email: [email protected]
🌐 Website: www.ThePuertoRicoRealEstate.com

#PuertoRicoRealEstate #CRIMPuertoRico #PropertyTaxesPR #SellYourHomePR #ClosingInPuertoRico #RealEstatePR #VendeTuCasaPR