Discount on payment of overdue property taxes now at 40%

By The Star Staff

Municipal Revenue Collections Center (CRIM by its Spanish acronym) Director Reinaldo Paniagua Látimer said Tuesday that the second phase of the staggered discount plan for payment of overdue property taxes with a 40 percent discount had begun.

Taxpayers will be able to benefit from a 40 percent discount on their delinquent property taxes, including the repeal of surcharges or penalties.

The CRIM is the entity in charge of collecting property taxes and distributing the funds to municipalities. It has been required by the Financial Oversight and Management Board to be more proactive with collections.

The latest discount was approved by the oversight board.

“Yesterday, the period allowing for the 55 percent discount in delinquent property taxes ended and today the second stage of this plan comes into full force, which contemplates a 40 percent discount on the total accumulated overdue debt, without surcharges or penalties, which will also represent a great savings for citizens,” Paniagua Látimer said in a written statement.

The official called on citizens to take advantage of the opportunity to update those accounts that have been in the CRIM records for many years, the debt at a 40 percent discount, because although the plan runs until June, the discounts will be reduced to 25 percent for the months of May and June, Paniagua Látimer said.

The objectives of this Special Taxpayer Benefit Regulation for Debt Payment are to collect tax debts on overdue real property and update the records of taxpayers who carry debts with the CRIM. The regulation provides that the 40 percent discount will apply to those invoices dating back to 2016.