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Old 15-04-2019, 13:28   #1
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Property Tax on Boat Kept in Puerto Rico

My wife and I are considering locating our catamaran in the Puerto Del Ray marina in Fajardo, Puerto Rico. We will not be full time residents on the boat initially but will spend considerable time on it exploring the USVIs. We may eventually move full time onto the boat. Before we make the move, I am trying to gather information on what our expenses will be. The only one I have not been able to get is the personal property tax we would have to pay on the boat each year if we keep in Fajardo, Puerto Rico. I have read that the local rate in Fajardo is 11.5%, but can this be right? If my boat is valued at $100,000, my tax rate would be $10,000 each and every year? That rate is almost 20 times what I currently pay in the US.
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