What taxes are payable upon real estate purchase?
Tax is payable on luxury dwellings and empty urban lots ("IVSS" taxes). The current classification on the luxury dwellings is that any home worth more than RD$5,000,000 is considered a 'luxury home' for tax purposes. The government will charge 1% of the value of the property.
Homes worth less than RD$ 5,000,000 pesos and commercial buildings are exempt from property taxes.
