People in Puerto Rico pay property taxes on real property and personal property. Personal property taxes range from 5.8 percent in Ceiba to 8.83 percent in cities such as San Juan and Ciales.
All real property in Puerto Rico is subject to taxation except for property that serves as a primary residence and is valued at less than $150,000. All personal property is subject to taxation at a rate determined by the individual municipalities. While real property is assessed by the Municipal Revenue Collections Center, personal property is self-assessed and is self-reported. Certain industries enjoy exemption from property tax in Puerto Rico, including agriculture and international financial entities.