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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FDIC Member. Products and services offered by Banco Popular de Puerto Rico.
1Withdrawals are subject to the availability of funds in your account.
2Deposits are subject to the provisions of the Bank’s Funds Availability Policy. Easy Deposit Mobile is a free service and only for Banco Popular customers with individual deposit accounts and/or commercial accounts (FlexiCuenta de Negocios® & B-Smart®). Customers selected in accordance with the Bank’s eligibility criteria. Checks deposited before 6:00 p.m. of a business day will be processed the same business day, subject to verification and deposit validation. In the back of the check to be deposited, enter your signature, account number and the phrase “For Deposit Only at BPPR.”
3Insurance is underwritten by Chubb Insurance Company of Puerto Rico. Insurance products are offered by Popular Insurance LLC, a subsidiary of Popular, Inc. and an affiliate of Banco Popular. Popular Insurance LLC is duly authorized by the Office of the Insurance Commissioner of Puerto Rico to offer and transact insurance products and has been appointed by Chubb Insurance Company as its Authorized Representative. Popular, Inc. and Banco Popular de Puerto Rico do not offer, underwrite or issue insurance products. Chubb and Popular Insurance LLC, Popular Inc. or Banco Popular de Puerto Rico are not affiliates. Obtaining this insurance is optional and it may be canceled at any time. Banco Popular de Puerto Rico will not condition the credit decision upon the purchase of this insurance or your agreement not to obtain such insurance from an unaffiliated entity. Insurance products are not insured by the FDIC, or other government agencies; are not deposits or obligations of, nor are guaranteed by Banco Popular de Puerto Rico its subsidiaries and/or affiliates. Certain limitations, exclusions and conditions apply. For more information, refer to the Certificate of Insurance.