What is the exoneration?

The exoneration consists of a 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 requirementsup to a maximum of one cuerda (a unit of land area equivalent to 0.971 acres).

If a taxpayer owns more than one property, they must identify which property is used as their main residence and request the exoneration benefit. For detailed information on the exoneration granted to your property, please contact your regional CRIM office or visit their website (www.crimpr.net).

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