Property taxes in the Dominican Republic are low. You will pay a 3% transfer tax upon the purchase of the property. A 1% annual tax is assessed on real estate property owned by individuals. (This is based on the value of the property as appraised by the government authorities). Generally properties are valued based on the assessed value which is normally lower than the market value. Furniture and equipment found in the property are excluded from the valuation.

• For built lots, the 1% is calculated only for values exceeding RD$6.5 million pesos or ($133,000 US)
• For unbuilt lots, the 1% tax is calculated on the actual appraised value without the RD$6.5 million pesos ($133,000 US) exemption.
• Property Tax must be paid every year on or before March 11. It can also be paid in two equal installments: 50% on or before March 11th, and the remaining 50%, on or before September 11th.
• The RD$6.5 million pesos or ($119,000 US) threshold is adjusted annually for inflation