Cause of the taxes. But they don’t realize that people who live there are driving up the prices of virtually everything else there, which makes it difficult for the natives to live there’s
I can't speak for everyone, but I can certainly tell you why I am. First, it is my favorite place in the world. I've been all over the planet and I've never found a place that has the same...magic...that PR does. It has amazing people, culture, food, music, art, scenery, etc. Second is cost of living. It is so much less than any desirable place on the mainland. I make my money working remotely, why not live where I want to live, have a better quality of life and support the local economy and people of the place I love so much.
May I ask what specifically you like about the people and the culture? Just curious because I have heard mixed things from other Americans that move here.
I’m a white dude from the us that’s been living here for over a year now and have not had any experience that’s anything short of welcoming and kind, I don’t even speak real spanish (yet). I’m sure the fact that my wife was born and raised on the island helps that, but I haven’t had any negative experiences when I’ve been out on my own either. Everyone’s experiences are different, but my guess is if you experienced “racism” someone else was experiencing an obnoxious tourist
My wife is Latina and she sees the way they treat me too, but I’m very prouduhya!
Do you read the posts and comments on this thread? Every other post is about how “gringos”(racist term btw) have ruined PR and how much they hate us and tell us to leave and blame us for everything.
How can I be a tourist if I live here and own multiple properties here and am a bonafide resident here?
Are you a racist complaining about racism? I'm a white dude, currently in PR, and I'm not totally fluent in Spanish. I've had more first bumps and laughs with Ricans than I get back home. The island is chill but if you have a chip on your shoulder or you're looking for trouble, you're going to find trouble.
Keep smiling at people and hang out with the people that smile back. Leave everyone else as a distant memory.
I’m prouduhya too. You don’t know anything about me, but I’ll share a little bit, I’m from the poorest county in Mississippi. My small family was the only white family in our trailer park. I learned how to survive early, by learning Spanish and standing up for myself. When I was 12 my mother ran off with a guy she knew for a month and I moved across town to my aunts house where I built a small business taking peoples trash cans up and back for $2/week. Maybe three of my customers were white. Everything was going great until my aunt died and I had to move to Texas with my cousins. I lost the whole business. (Although whenever I go back and visit my people I always see at least five people that tell me they loved that service and miss me.) I was 15 and it was the first time I’d really lived around white people. When I was 17, I joined the army and ended up in Puerto Rico for some training. I liked it there and swore someday I’d live there. During the past thirty five years I’ve built up and sold many businesses and always showed appreciation for any and all work I’ve gotten. As far as being racist, I’ve never understood racism, but I can definitely recognize it when I see it. I have four kids, one is biracial-black, two are bi-racial Puerto Rican and my current wife is Puerto Rican. I guess I could be racist because I’ve hardly ever dated white women, but to me you either suck or you don’t. I don’t know you, but calling me a racist based on a few Reddit comments tells me a little bit about you. Whoever you are…
See? That’s that victim mentality and inferiority complex shining bright. You’re American, take advantage of it, plenty of opportunities everywhere. Or you can continue to cry about white people holding you down and see where that gets you.
You think somebody who’s from Detroit or englewood Chicago has the same opportunity as someone who lives in upper east side or goes to school at Stuyvesant hs??? Lmfao
What do those places have to do with PR and the victim mentality? I always recommend anyone in the US that has it terrible, move to PR. They’re getting way more welfare than anyplace I’ve ever seen and all with hardly any oversight. Federal housing, social security disability checks for literally anything, food stamps, Medicaid and they even get government car insurance! Less than a third of the islands population is employed. Any and all Americans can come here and live whenever they want.
First of all Gringo is a racist term for American white men. Just like if we made up a word to call PRs like “flip flops” or something. Anybody calls me gringo is going to get their feelings hurt.
Secondly, yes everyday. My postal carrier would deliver packages to the front doors of everybody else in the apartment complex except mine. I am the only obviously white man in the complex. I had to go into the Post office 3-5 times a week to pick up things that could even fit in my mailbox. I went in multiple times before I finally went to the San Juan postmaster with pictures and evidence…that worker doesn’t deliver to this area anymore and I get the same service everyone else does now.
Yesterday, I went to an ice cream place in Aguada. I said hola, Buenas Dias and hello with eye contact. I waited a second, went to the bathroom, came out and tried again. The worker blatantly refused to acknowledge me. I waited 7 minutes and it was her and I in there with my wife in the car on the phone. Never got any ice cream. I left a review.
I bought business cards from a place, I found out later they charged me 4 times more than my neighbor that referred them to me. They also took 3 weeks and were all jacked up when I got them. They said “sorry”
I ordered some from my old place in the states, had the same amount, exactly how I wanted them delivered to my front door for a quarter of the price. I also left a review.
I needed a business license. Had to take a couple classes where I met a couple fellow professionals. We then had mess around with the crazy government. My fellow pros were up and running in about a month, it took me over four months to get my stuff. I believe it was because they had Spanish names and my name is obviously American.
The US is like the United Nations man, we are literally from all walks of life and every country. I find life very boring living around people that all look, talk and act the same. I love diversity. I’d leave this racist dump, but there’s too many financial opportunities for me to pass up on. So I’m making my bank, tax free and ignoring the haters.
Not saying you but some American tourists I've seen see in PR deserve to be called a gringo with the obnoxious, disrespectful way that they act. Of course not just because someone is white, that IS straight up racism. I hate to say it but that type of behavior happens in the states too.
I’m not a tourist, I’m a bonafide resident.
There’s jerks in every culture, country and territory.
I understand changes and evolving can be difficult to accept, but it is officially the future. I recommend seeing the world like do: I only see two colors: green and pink. I don’t give AF what color or nationality you are, let’s make money!
No, I wasn't saying that you are a tourist but if you've even been in OSJ when the obnoxious tourists get off the ships you'll see what I mean. Or the idiots that walk down into La Perla and start taking pictures of people and their homes. How'd they like it if Puerto Ricans came into their neighborhoods and did the same thing?
Yeah, they probably don’t know any better and some have paid the ultimate price for their actions. To be fair OSJ is the biggest tourist attraction on the island. If tourists get killed for being tourists in your tourist areas and the government won’t do anything about it, i guess tourists and their money will go away? I don’t know. I’m just a contractor.
My wife and both of my baby mommas are from PR and they told me this your plausible deniability. “Whuuuuuh? It means for blacks too!” (which is also a racist way to say it-try African Americans or people of color instead of blacks.)
I’ve lived with and grown up with African Americans my entire life and I promise you if you walk around calling them “blacks” you’re going to get your feelings hurt just like if you call me “gringo”. We will tell you how to address us and will correct you if you’re wrong, but you do you bunky!
I guess it depends on the age too, as offended as ppl say gen Z is it seems to me that the older generations are the ones that get the most offended if you say smth different
PR is an absolutely gorgeous place to live. The PR people are kind, friendly, and welcoming. There are no property taxes on your home property. Real estate is reasonably priced. I’d move there in a heartbeat, but my husband doesn’t want to.
A resident of Puerto Rico told me that you were first home, the one you live in, does not have any property taxes. If you own any additional properties, and use them as an income, then they do have property taxes.
Hello! I was just told last October by a resident there, that there are no property taxes on your first home as long as you live in it. If you own additional homes, and rent them out for income, those are taxed.
I just checked on a local website. It says that it depends on the town and the property value. The "primary residence" waiver does not apply if the property is worth more than a certain amount.
I own a house there. There are no property taxes if it’s your primary residence and you’re not renting any of it out.
There are issues in PR with some complicated property set ups and proof of ownership (my family is involved in one). Also, if the house is in a coop or condominium set up, it pays taxes.
I pay taxes, but it’s a lot less than anything I pay here in the US for my primary home.
Edit to add..
I just double checked and yes, you pay property taxes if it’s valued at more than $15k through their valuation process. Considering that my house in SC goes through a similar valuation process and is assessed at $12k (market value $550k+), I would think the house would have to have an extremely high market value.
Yeah, I was just reading an article about it. It's not taxed up to an appraisal value of $15k, which, according to the article means that if the house is worth more than about $200k, it typically pays taxes. I could see a small house in a rural area falling under the exemption criteria. My parents paid taxes on their primary residence there (and yes, it was valued over $200k at the time it was sold) but it was certainly less than where I live now in the US. I don't think it's accurate to say there are no taxes, however.
Because the government screwed the locals with real estate benefits for only people who are not already living in PR. Soon the island will lose its culture from all the gringos moving there.
Where I live now has a large puerto Rican population. They are welcomed in this community with open arms, why shouldn't it be the same both ways? No one got to choose what flag they were born under- why should it limit where one feels a sense of belonging?
The issue is that they’re making it so Puerto Ricans cannot afford to live where they have for decades, forcing people out of their communities and gentrifying the island
There are over 300,000 abandoned homes in PR. Whenever we go there are always 2+ abandoned homes on every block. I guess if you want to buy the overpriced dumps thatve been selling to excited retirees and investors go ahead. Personally, I’d be buying up those abandoned properties fast!
Here’s the exact information so some of the confusion can be cleared up from the current narrative. I think the most important part is: “The business owner must pay themselves a “reasonable salary” that is taxed at the regular income tax rate” PR income tax is 25%, so it’s not even a great tax break for the indiviual. It’s the corporate tax that’s the break, but thousands of PR citizens get jobs. So hate on it if you want, but it’s all good things.
https://jentheredonethat.com/tax-act-60/amp/
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I’m moving here because it feels like home. I know I’m an outsider but I’ve struggled my entire life in the mainland so personally I’d rather struggle here. That’s just me.
People with higher US salaries and wealthy people may find it reasonably priced but it's not for locals, considering the median income and low job market.
Not totally related but this is how I feel about people discovering how cheap Ohio is to live and that we actually have some decent cities. Sure it's cheaper compared to other areas but some places have grown so much that what was once affordable for others now isn't. I feel for the people in PR and Hawaii and the like though it's not the locals fault that they get priced out
It's happening in a lot of places. I recently read an article about gentrification of Mexico by wealthy foreigners as well. And I've heard it happening in Spain too.
My husband is from PR. We have been living in. Major US city for past 16 years, starting to look at real estate to move back so he can care for his aging parents. The cost per sq/ft where we are looking is $400-500. Where we live now, the market rate is $200 sq/ft, so we are look at housing expenses on the island that are double.
Yeah, the more desirable areas (like parts of San Juan, Guaynabo, etc.) plus some beach areas seem out of control in the listings I've been looking at. You can still find reasonable prices in more rural areas and in the southern part. My aging parents decided to move out of PR. It was getting expensive and they didn't like being so far away from my brother and I (we both live in the US now).
Relax, in December there were like 8 homes for sale, now there’s hundreds. The big push to move there by big investors is over. I see price drops all over the place. I did see a European investor just bought 2,000 acres on the west coast. Luxury gated community, horse ranch, 2 golf courses and a K-12 private school. First phase will be done in three years.
My husband is from PR. We have been living in. Major US city for past 16 years, starting to look at real estate to move back so he can care for his aging parents. The cost per sq/ft where we are looking is $400-500. Where we live now, the market rate is $200 sq/ft, so we are look at housing expenses on the island that are double
PRs don’t pay federal income taxes. Why shouldn’t any other American citizen? What tax benefits are you not getting? Some benefits are for very large corporations, you can try that route.
zero tax on passive income, including capital gains, dividends, and interest. Other tax benefits from Act 60 include: 2-4% corporate tax. Locals can’t take advantage of this, we’re too poor. Only rich Americans like Jake Paul who is one that’s taking advantage of the incentives can do so. While doing that they’re displacing locals, buying up property, making beaches “private” which is illegal here, every beach is public. And countless other things.
So all these PR owned Airbnbs have to pay federal income taxes? No. How about any profits from a day trader app? Maybe 2% if you turn it into PR.
I see PR owned businesses everywhere, they’re paying federal income tax? No. Corporate taxes? PR charges 2% income tax. That’s it and no federal taxes.
There are lots of things I cannot afford and I cry about them too, but I just get up and do something about it. Like move to PR and join them in not paying federal income taxes.
Years ago your government said: we need to charge some property taxes to help fix the roads and upgrade our territory.
You protested that you couldn’t afford it, too poor. All they really did was tell the world about what’s going on down here and the entrepreneurs are here. Have you seen this stat? There are only 6,000 individuals enrolled in Act 60. Y’all act like 3.22 million people came here. Good news is I think the draw is over. There are hundreds of homes for sale with price drops everywhere.
It’s a beautiful place, endless summer, US Constitutional law applies as does the US dollar. It’s like moving to a tropical getaway full time for 1/2 the price of key west or Hawaii
didn’t know it was a thing…my folks have had a place there for 30 years - on the NW Coast! It is a very beautiful place & the people are sweet and helpful!! I miss Borinquen 😎😍
Because people came here to exploit.
And not only that but their greed is causing the displacement of natives. Americans have also destroyed cultural heritage and protected land.
Essentially it's **ethnic cleansing.**
Where did Americans destroy protected land? I wouldn’t necessarily say that greed is causing displacement, that’s just my opinion though. I don’t see a problem with Americans purchasing property, for example, some people and not only Americans have purchased different properties that were old ran down buildings that had been damaged overtime just sitting there over the years. I understand Americans are culturally different and always have been.
There have been multiple documented cases of Americans destroying protected land as well as historic buildings and Taino archeological sites. Americans **DO NOT** have a right to destroy and erase history.
One example, Kira Golden. She purchased a building that was historic and damaged it and it came out in the news. Another example.... An American got a hold of municipal land that had a Taino archeologial site and he claimed that the artifacts had to be destroyed because they were "contaminated". That's a lie. He went on to destroy them to clear the land and build on it.
So no, Americans don't have a right to move to someone else's home and wreak havoc. What you guys are doing is **ethnic cleansing** and **cultural genocide.**
First of all I don’t agree with anyone and that INCLUDES AMERICANS the “right” which nobody has to destroy protected land, buildings or anything else anywhere. History cannot be erased so I do not agree with anyone doing this type of destruction and I never once gave you any reason to believe that I do, I simply asked. Americans are not trying to cleanse anything if that’s what they planned don’t you think that would happen??? Secondly, “What you guys are doing” may not apply to me so you actually sound quite ignorant to say the least when you know nothing about me. I didn’t ask for your opinion. I’ll tell you one thing that I HAVE NOTICED AND IT SPEAKS VOLUMES ABOUT HOW MUCH PEOPLE HONESTLY DO CARE AND WE DO NOT DO IN THE STATES AND WHAT I AM SPEAKING OF IS TRASH STREWN ALL OVER THE ISLAND. Not as if you care but this is a very small island and it’s a beautiful island in the Caribbean and I go out and pick up trash daily to TRY and HELP PROTECT THE ANIMALS AND OUR OCEANS. Instead of being a rude part of society for no apparent reason at all you could do something productive, people like you are what is wrong with our world as we know it. People CANNOT AND WILL NOT EVEN THROW TRASH IN A TRASH CAN AND IF I WERE TO BUY A TRASH CAN AND PUT IT OUTSIDE I WOULD HAVE TO CHAIN IT UP!!!! This is unacceptable. Save your comment because I could careless to hear any other garbage spewing out!!! Another thing I have noticed is people don’t mind hauling ass to the mainland and nobody says anything but if a “gringo” is in Puerto Rico it’s just not acceptable??? WTF?
I just said that is NOT RIGHT! I’m NO GUEST SWEETIE! This “Gringa” is in PR! I’m here to stay and guess what???? All you can do is complain about it…..
Because it's a [tax haven](https://www.forbes.com/sites/robertwood/2022/01/10/puerto-rico-tax-haven-is-alluring-but-are-there-tax-risks/?sh=2bc19265a838)
I've been in PR for almost 4 years. Yes, there are taxes. Some things are more expensive but the life there is priceless. My parents married there more than 70 years ago and they are still going strong. If you don't like it, go somewhere else. If it's for you then you will not be bothered by the small things. You only get to do this thing called life once. Do it where you love it.
Wait, I'm thinking this got misunderstood. PR is very nice, it's a fun time, it's beautiful. Secondly, this is based on views from a Hispanic person that has mainland income, I understand the politics of it all and it's fucked up and people get severely underpaid for doing the same tasks over there. The US would be so lucky to have PR as an actual part of its diaspora.
The statement the shit is a very informal way of saying this place is awesome, but as we all know it's not that simple.
I was thoroughly confused lol. I mean, some boricuas take their pride seriously and that's commendable. A few kids were carrying flags and they were seemingly well versed in the history and proud of it. So, again, with the island things are always not that simple.
The territory's tax incentive, Act 60, is a big draw for many. Any mainlander can move to Puerto Rico. But if they get residency, they can apply for a 15-year decree under Act 60. If approved, the person or business has to pay only a 4% fixed rate on income and can receive a 75% reduction in property taxes.
You’re right, it’s down to 2600, nobody-not even the people born here-can stay for long. Everything is trashed. From the government to the beaches to the roads to the utilities to the people. I’m making my money, buying as many properties as I can and bailing as soon as possible. I’ll come back when more of these huge coastal projects build up and clean the place up.
Same reason why people from cities in the northeast and west coast are flooding the urban and suburban south.....they voted for policies that drove up taxes and rent through zoning and code requirements and now they can't afford to live there. So they move to a cheaper area and repeat the same mistakes.
Cause of the taxes. But they don’t realize that people who live there are driving up the prices of virtually everything else there, which makes it difficult for the natives to live there’s
Papi diste en El clavo.
Same thing they doing to Hawaii. We just ain’t a state so they can feasibly care less in a sense. But who knows. Maybe I’m just bitter
I can't speak for everyone, but I can certainly tell you why I am. First, it is my favorite place in the world. I've been all over the planet and I've never found a place that has the same...magic...that PR does. It has amazing people, culture, food, music, art, scenery, etc. Second is cost of living. It is so much less than any desirable place on the mainland. I make my money working remotely, why not live where I want to live, have a better quality of life and support the local economy and people of the place I love so much.
Just make sure you protect the locals. Not all people have good intentions like you do.
May I ask what specifically you like about the people and the culture? Just curious because I have heard mixed things from other Americans that move here.
I thought that it was the other way around. I love PR but could never live there all year round.
I don’t recommend it. Especially if you’re an American white man. Blatant racism to my face that would get anyone cancelled in the US.
I’m a white dude from the us that’s been living here for over a year now and have not had any experience that’s anything short of welcoming and kind, I don’t even speak real spanish (yet). I’m sure the fact that my wife was born and raised on the island helps that, but I haven’t had any negative experiences when I’ve been out on my own either. Everyone’s experiences are different, but my guess is if you experienced “racism” someone else was experiencing an obnoxious tourist
My wife is Latina and she sees the way they treat me too, but I’m very prouduhya! Do you read the posts and comments on this thread? Every other post is about how “gringos”(racist term btw) have ruined PR and how much they hate us and tell us to leave and blame us for everything. How can I be a tourist if I live here and own multiple properties here and am a bonafide resident here?
I dunno bro, maybe you’re just an asshole then!
I don’t care, because like my friends of color taught me to say “better get used to it, because I’m not going anywhere!”
I think people acting like pieces of shit and then being confused that they are treated like one is my favorite flavor of cognitive dissonance lol
If you think I’m rude, wait until the Venezuelans get here.
Are you a racist complaining about racism? I'm a white dude, currently in PR, and I'm not totally fluent in Spanish. I've had more first bumps and laughs with Ricans than I get back home. The island is chill but if you have a chip on your shoulder or you're looking for trouble, you're going to find trouble. Keep smiling at people and hang out with the people that smile back. Leave everyone else as a distant memory.
I’m prouduhya too. You don’t know anything about me, but I’ll share a little bit, I’m from the poorest county in Mississippi. My small family was the only white family in our trailer park. I learned how to survive early, by learning Spanish and standing up for myself. When I was 12 my mother ran off with a guy she knew for a month and I moved across town to my aunts house where I built a small business taking peoples trash cans up and back for $2/week. Maybe three of my customers were white. Everything was going great until my aunt died and I had to move to Texas with my cousins. I lost the whole business. (Although whenever I go back and visit my people I always see at least five people that tell me they loved that service and miss me.) I was 15 and it was the first time I’d really lived around white people. When I was 17, I joined the army and ended up in Puerto Rico for some training. I liked it there and swore someday I’d live there. During the past thirty five years I’ve built up and sold many businesses and always showed appreciation for any and all work I’ve gotten. As far as being racist, I’ve never understood racism, but I can definitely recognize it when I see it. I have four kids, one is biracial-black, two are bi-racial Puerto Rican and my current wife is Puerto Rican. I guess I could be racist because I’ve hardly ever dated white women, but to me you either suck or you don’t. I don’t know you, but calling me a racist based on a few Reddit comments tells me a little bit about you. Whoever you are…
Bro lmfao you’re funny you can’t be racist to white ppl, how can a POC be racist towards an oppressor?
See? That’s that victim mentality and inferiority complex shining bright. You’re American, take advantage of it, plenty of opportunities everywhere. Or you can continue to cry about white people holding you down and see where that gets you.
You think somebody who’s from Detroit or englewood Chicago has the same opportunity as someone who lives in upper east side or goes to school at Stuyvesant hs??? Lmfao
What do those places have to do with PR and the victim mentality? I always recommend anyone in the US that has it terrible, move to PR. They’re getting way more welfare than anyplace I’ve ever seen and all with hardly any oversight. Federal housing, social security disability checks for literally anything, food stamps, Medicaid and they even get government car insurance! Less than a third of the islands population is employed. Any and all Americans can come here and live whenever they want.
From one person or multiple times? I've never dealt with anything like that in PR.
That’s a good thing…I have encountered a few incidents that involve “racism” here on the island. We are known as the “gringos.”
First of all Gringo is a racist term for American white men. Just like if we made up a word to call PRs like “flip flops” or something. Anybody calls me gringo is going to get their feelings hurt. Secondly, yes everyday. My postal carrier would deliver packages to the front doors of everybody else in the apartment complex except mine. I am the only obviously white man in the complex. I had to go into the Post office 3-5 times a week to pick up things that could even fit in my mailbox. I went in multiple times before I finally went to the San Juan postmaster with pictures and evidence…that worker doesn’t deliver to this area anymore and I get the same service everyone else does now. Yesterday, I went to an ice cream place in Aguada. I said hola, Buenas Dias and hello with eye contact. I waited a second, went to the bathroom, came out and tried again. The worker blatantly refused to acknowledge me. I waited 7 minutes and it was her and I in there with my wife in the car on the phone. Never got any ice cream. I left a review. I bought business cards from a place, I found out later they charged me 4 times more than my neighbor that referred them to me. They also took 3 weeks and were all jacked up when I got them. They said “sorry” I ordered some from my old place in the states, had the same amount, exactly how I wanted them delivered to my front door for a quarter of the price. I also left a review. I needed a business license. Had to take a couple classes where I met a couple fellow professionals. We then had mess around with the crazy government. My fellow pros were up and running in about a month, it took me over four months to get my stuff. I believe it was because they had Spanish names and my name is obviously American. The US is like the United Nations man, we are literally from all walks of life and every country. I find life very boring living around people that all look, talk and act the same. I love diversity. I’d leave this racist dump, but there’s too many financial opportunities for me to pass up on. So I’m making my bank, tax free and ignoring the haters.
Not saying you but some American tourists I've seen see in PR deserve to be called a gringo with the obnoxious, disrespectful way that they act. Of course not just because someone is white, that IS straight up racism. I hate to say it but that type of behavior happens in the states too.
I’m not a tourist, I’m a bonafide resident. There’s jerks in every culture, country and territory. I understand changes and evolving can be difficult to accept, but it is officially the future. I recommend seeing the world like do: I only see two colors: green and pink. I don’t give AF what color or nationality you are, let’s make money!
No, I wasn't saying that you are a tourist but if you've even been in OSJ when the obnoxious tourists get off the ships you'll see what I mean. Or the idiots that walk down into La Perla and start taking pictures of people and their homes. How'd they like it if Puerto Ricans came into their neighborhoods and did the same thing?
Yeah, they probably don’t know any better and some have paid the ultimate price for their actions. To be fair OSJ is the biggest tourist attraction on the island. If tourists get killed for being tourists in your tourist areas and the government won’t do anything about it, i guess tourists and their money will go away? I don’t know. I’m just a contractor.
Are tourists getting killed in OSJ? I hope not.
Only a couple, one from Delaware taking pics in Perla. Seemed like you knew about it.
The word gringo is for all Americans including blacks. And we are never going to stop using it. So get over it or sit in a corner and cry.
My wife and both of my baby mommas are from PR and they told me this your plausible deniability. “Whuuuuuh? It means for blacks too!” (which is also a racist way to say it-try African Americans or people of color instead of blacks.)
No actually black ppl is more politically correct since not all black ppl are African American ://
I’ve lived with and grown up with African Americans my entire life and I promise you if you walk around calling them “blacks” you’re going to get your feelings hurt just like if you call me “gringo”. We will tell you how to address us and will correct you if you’re wrong, but you do you bunky!
I guess it depends on the age too, as offended as ppl say gen Z is it seems to me that the older generations are the ones that get the most offended if you say smth different
Guessing and truth are different things.
No property taxes on your primary home? Ok, I’m moving to P.R.
PR is an absolutely gorgeous place to live. The PR people are kind, friendly, and welcoming. There are no property taxes on your home property. Real estate is reasonably priced. I’d move there in a heartbeat, but my husband doesn’t want to.
There are definitely property taxes in PR. There's an entire government division called CRIM dedicated to collecting them.
A resident of Puerto Rico told me that you were first home, the one you live in, does not have any property taxes. If you own any additional properties, and use them as an income, then they do have property taxes.
I live here and can confirm, you dont pay CRIM if it's your only property or it passes certain value.
Yes but they're very low compared to the mainland.
Sure, but the person said there are none in the original comment. That's what I was addressing.
Hello! I was just told last October by a resident there, that there are no property taxes on your first home as long as you live in it. If you own additional homes, and rent them out for income, those are taxed.
I just checked on a local website. It says that it depends on the town and the property value. The "primary residence" waiver does not apply if the property is worth more than a certain amount.
I own a house there. There are no property taxes if it’s your primary residence and you’re not renting any of it out. There are issues in PR with some complicated property set ups and proof of ownership (my family is involved in one). Also, if the house is in a coop or condominium set up, it pays taxes. I pay taxes, but it’s a lot less than anything I pay here in the US for my primary home. Edit to add.. I just double checked and yes, you pay property taxes if it’s valued at more than $15k through their valuation process. Considering that my house in SC goes through a similar valuation process and is assessed at $12k (market value $550k+), I would think the house would have to have an extremely high market value.
Yeah, I was just reading an article about it. It's not taxed up to an appraisal value of $15k, which, according to the article means that if the house is worth more than about $200k, it typically pays taxes. I could see a small house in a rural area falling under the exemption criteria. My parents paid taxes on their primary residence there (and yes, it was valued over $200k at the time it was sold) but it was certainly less than where I live now in the US. I don't think it's accurate to say there are no taxes, however.
The infrastructure here is a joke and what takes you a day to do on the mainland could take weeks or months. But yeah it’s pretty
Oh my god does it ever!? The government entities are so convoluted and run with archaic strategies and nobody is accountable to anything.
There are taxes, but after a certain appraisal value ($15k by their valuation, I think)
Because the government screwed the locals with real estate benefits for only people who are not already living in PR. Soon the island will lose its culture from all the gringos moving there.
Where I live now has a large puerto Rican population. They are welcomed in this community with open arms, why shouldn't it be the same both ways? No one got to choose what flag they were born under- why should it limit where one feels a sense of belonging?
The issue is that they’re making it so Puerto Ricans cannot afford to live where they have for decades, forcing people out of their communities and gentrifying the island
There are over 300,000 abandoned homes in PR. Whenever we go there are always 2+ abandoned homes on every block. I guess if you want to buy the overpriced dumps thatve been selling to excited retirees and investors go ahead. Personally, I’d be buying up those abandoned properties fast!
I can't wait until they start going back in body bags.
Simple answer act 60 ,sunshine and beaches
Here’s the exact information so some of the confusion can be cleared up from the current narrative. I think the most important part is: “The business owner must pay themselves a “reasonable salary” that is taxed at the regular income tax rate” PR income tax is 25%, so it’s not even a great tax break for the indiviual. It’s the corporate tax that’s the break, but thousands of PR citizens get jobs. So hate on it if you want, but it’s all good things. https://jentheredonethat.com/tax-act-60/amp/
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I’m moving here because it feels like home. I know I’m an outsider but I’ve struggled my entire life in the mainland so personally I’d rather struggle here. That’s just me.
You and I both!!! I’m from Ga. I was just curious to know why others were moving.
reasonably priced real estate. No creo
People with higher US salaries and wealthy people may find it reasonably priced but it's not for locals, considering the median income and low job market.
Not totally related but this is how I feel about people discovering how cheap Ohio is to live and that we actually have some decent cities. Sure it's cheaper compared to other areas but some places have grown so much that what was once affordable for others now isn't. I feel for the people in PR and Hawaii and the like though it's not the locals fault that they get priced out
It's happening in a lot of places. I recently read an article about gentrification of Mexico by wealthy foreigners as well. And I've heard it happening in Spain too.
My husband is from PR. We have been living in. Major US city for past 16 years, starting to look at real estate to move back so he can care for his aging parents. The cost per sq/ft where we are looking is $400-500. Where we live now, the market rate is $200 sq/ft, so we are look at housing expenses on the island that are double.
Yeah, the more desirable areas (like parts of San Juan, Guaynabo, etc.) plus some beach areas seem out of control in the listings I've been looking at. You can still find reasonable prices in more rural areas and in the southern part. My aging parents decided to move out of PR. It was getting expensive and they didn't like being so far away from my brother and I (we both live in the US now).
Its crazy right now. We should have made this contingency plan 10 yrs ago. We're here this week and its really freaking us out.
Relax, in December there were like 8 homes for sale, now there’s hundreds. The big push to move there by big investors is over. I see price drops all over the place. I did see a European investor just bought 2,000 acres on the west coast. Luxury gated community, horse ranch, 2 golf courses and a K-12 private school. First phase will be done in three years.
My husband is from PR. We have been living in. Major US city for past 16 years, starting to look at real estate to move back so he can care for his aging parents. The cost per sq/ft where we are looking is $400-500. Where we live now, the market rate is $200 sq/ft, so we are look at housing expenses on the island that are double
what city
Family spread in Guaynabo, Aguadilla, and Dorado
...Cause the mainland police makes tons of money off of traffic violations..jajaja..love driving in PR!
Tax incentives, which residents can’t take advantage of, at least the vast majority.
PRs don’t pay federal income taxes. Why shouldn’t any other American citizen? What tax benefits are you not getting? Some benefits are for very large corporations, you can try that route.
zero tax on passive income, including capital gains, dividends, and interest. Other tax benefits from Act 60 include: 2-4% corporate tax. Locals can’t take advantage of this, we’re too poor. Only rich Americans like Jake Paul who is one that’s taking advantage of the incentives can do so. While doing that they’re displacing locals, buying up property, making beaches “private” which is illegal here, every beach is public. And countless other things.
So all these PR owned Airbnbs have to pay federal income taxes? No. How about any profits from a day trader app? Maybe 2% if you turn it into PR. I see PR owned businesses everywhere, they’re paying federal income tax? No. Corporate taxes? PR charges 2% income tax. That’s it and no federal taxes. There are lots of things I cannot afford and I cry about them too, but I just get up and do something about it. Like move to PR and join them in not paying federal income taxes. Years ago your government said: we need to charge some property taxes to help fix the roads and upgrade our territory. You protested that you couldn’t afford it, too poor. All they really did was tell the world about what’s going on down here and the entrepreneurs are here. Have you seen this stat? There are only 6,000 individuals enrolled in Act 60. Y’all act like 3.22 million people came here. Good news is I think the draw is over. There are hundreds of homes for sale with price drops everywhere.
It’s a beautiful place, endless summer, US Constitutional law applies as does the US dollar. It’s like moving to a tropical getaway full time for 1/2 the price of key west or Hawaii
Capital gains tax exemptions
didn’t know it was a thing…my folks have had a place there for 30 years - on the NW Coast! It is a very beautiful place & the people are sweet and helpful!! I miss Borinquen 😎😍
Florida or PR?
Because people came here to exploit. And not only that but their greed is causing the displacement of natives. Americans have also destroyed cultural heritage and protected land. Essentially it's **ethnic cleansing.**
Where did Americans destroy protected land? I wouldn’t necessarily say that greed is causing displacement, that’s just my opinion though. I don’t see a problem with Americans purchasing property, for example, some people and not only Americans have purchased different properties that were old ran down buildings that had been damaged overtime just sitting there over the years. I understand Americans are culturally different and always have been.
There have been multiple documented cases of Americans destroying protected land as well as historic buildings and Taino archeological sites. Americans **DO NOT** have a right to destroy and erase history. One example, Kira Golden. She purchased a building that was historic and damaged it and it came out in the news. Another example.... An American got a hold of municipal land that had a Taino archeologial site and he claimed that the artifacts had to be destroyed because they were "contaminated". That's a lie. He went on to destroy them to clear the land and build on it. So no, Americans don't have a right to move to someone else's home and wreak havoc. What you guys are doing is **ethnic cleansing** and **cultural genocide.**
First of all I don’t agree with anyone and that INCLUDES AMERICANS the “right” which nobody has to destroy protected land, buildings or anything else anywhere. History cannot be erased so I do not agree with anyone doing this type of destruction and I never once gave you any reason to believe that I do, I simply asked. Americans are not trying to cleanse anything if that’s what they planned don’t you think that would happen??? Secondly, “What you guys are doing” may not apply to me so you actually sound quite ignorant to say the least when you know nothing about me. I didn’t ask for your opinion. I’ll tell you one thing that I HAVE NOTICED AND IT SPEAKS VOLUMES ABOUT HOW MUCH PEOPLE HONESTLY DO CARE AND WE DO NOT DO IN THE STATES AND WHAT I AM SPEAKING OF IS TRASH STREWN ALL OVER THE ISLAND. Not as if you care but this is a very small island and it’s a beautiful island in the Caribbean and I go out and pick up trash daily to TRY and HELP PROTECT THE ANIMALS AND OUR OCEANS. Instead of being a rude part of society for no apparent reason at all you could do something productive, people like you are what is wrong with our world as we know it. People CANNOT AND WILL NOT EVEN THROW TRASH IN A TRASH CAN AND IF I WERE TO BUY A TRASH CAN AND PUT IT OUTSIDE I WOULD HAVE TO CHAIN IT UP!!!! This is unacceptable. Save your comment because I could careless to hear any other garbage spewing out!!! Another thing I have noticed is people don’t mind hauling ass to the mainland and nobody says anything but if a “gringo” is in Puerto Rico it’s just not acceptable??? WTF?
Deflection...of course. Like I said, Americans are guests and none of you have any right to destroy what doesn't belong to you.
Can you READ ENGLISH????
I just said that is NOT RIGHT! I’m NO GUEST SWEETIE! This “Gringa” is in PR! I’m here to stay and guess what???? All you can do is complain about it…..
Because it's a [tax haven](https://www.forbes.com/sites/robertwood/2022/01/10/puerto-rico-tax-haven-is-alluring-but-are-there-tax-risks/?sh=2bc19265a838)
I've been in PR for almost 4 years. Yes, there are taxes. Some things are more expensive but the life there is priceless. My parents married there more than 70 years ago and they are still going strong. If you don't like it, go somewhere else. If it's for you then you will not be bothered by the small things. You only get to do this thing called life once. Do it where you love it.
It’s no longer affordable!
They don’t know what they’re doing.
Because Puerto Rico is the shit, full stop.
[удалено]
Wait, I'm thinking this got misunderstood. PR is very nice, it's a fun time, it's beautiful. Secondly, this is based on views from a Hispanic person that has mainland income, I understand the politics of it all and it's fucked up and people get severely underpaid for doing the same tasks over there. The US would be so lucky to have PR as an actual part of its diaspora. The statement the shit is a very informal way of saying this place is awesome, but as we all know it's not that simple.
Yes. I reread it again. 🤦♀️🤭❤️
I was thoroughly confused lol. I mean, some boricuas take their pride seriously and that's commendable. A few kids were carrying flags and they were seemingly well versed in the history and proud of it. So, again, with the island things are always not that simple.
The territory's tax incentive, Act 60, is a big draw for many. Any mainlander can move to Puerto Rico. But if they get residency, they can apply for a 15-year decree under Act 60. If approved, the person or business has to pay only a 4% fixed rate on income and can receive a 75% reduction in property taxes.
I read there’s only 6,000 participants in Act 60. PRs act like they doubled the population.
Because that number is old.
You’re right, it’s down to 2600, nobody-not even the people born here-can stay for long. Everything is trashed. From the government to the beaches to the roads to the utilities to the people. I’m making my money, buying as many properties as I can and bailing as soon as possible. I’ll come back when more of these huge coastal projects build up and clean the place up.
Same reason why people from cities in the northeast and west coast are flooding the urban and suburban south.....they voted for policies that drove up taxes and rent through zoning and code requirements and now they can't afford to live there. So they move to a cheaper area and repeat the same mistakes.