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Tax on real estate property, sumptuary housing and not built urban lots (IVSS)
This it is the tax that is applied to the commercial premises, sumptuary housing (houses or apartments) and lots located in urban zones that have not been built, whose estimate value is greater than five million pesos (RD$ 5, 000,000.00) [law 18-88].
These houses, lots and premises are taxed with 1% applied on the value of each building that exceeds to the five million pesos (RD$ 5.000.000,00).
Premises, houses and urban lots whose value is inferior to this amount are exempted from this tax.
Also, they are exempted from this tax the constructions and lots belonging to the Dominican State, beneficial institutions, religious organizations and Diplomatic legations. In addition the buildings whose proprietor is over sixty and five (65) years of age, provided the property has never been transferred and the owner does not have another building registered to his name.
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