What is an exemption?

An exemption is benefit granted by law to taxpayers of not having to pay taxes on the property that is used as their main residence, up to a maximum of $15,000 of appraised valuation for tax purposes. This applies only to one home per taxpayer, as well as other applicable legal requirements.

If a taxpayer owns more than one property, they must identify which property is used as their main residence and request the exoneration benefit.

Exemptions also consists of the partial or total release of the charges or tax payment on a property according to what is stipulated by law at the CRIM agency. The exemption may have an effective term depending on the type of exemption granted.

For detailed information on exemptions granted to your property, please contact your regional CRIM office or visit their website (www.crimpr.net).

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