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County tax profile · 2026 · Census ACS + IRS data

Property Tax & Income in Lares Municipio, Puerto Rico

Lares Municipio has an effective property tax rate of 0.19%. On the median home value of $105,100, that's roughly $199 per year. Median household income is $18,917.

Effective Property Tax Rate1
0.19%
median tax $199 ÷ median home $105,100
Median Home Value1
$105,100
owner-occupied
Median Household Income1
$18,917
per-capita $11,029
Est. Annual Tax on Median Home1
$199
at 0.19% effective rate

What you'll pay, at a glance

Property taxes are the largest local tax most homeowners pay. The effective rate measures the real tax bill as a share of home value — a more useful number than the nominal “mill rate,” because assessment practices vary county to county.

MetricLares MunicipioPuerto Rico (state context)
Effective property tax rate10.19%N/A
Median home value1$105,100—
State income tax3——
State sales tax3——

How this is calculated

The effective property tax rate is the median real-estate tax bill divided by the median home value — both for owner-occupied homes, from the U.S. Census Bureau's American Community Survey (ACS 5-year estimates)1. Median income is also from the ACS1. Federal and state income-tax figures use IRS2 and Tax Foundation3 data.

About Lares Municipio, PR

In Lares Municipio, Puerto Rico, buying a home comes with unusually light property taxes. The median home value sits at $105,100, and the median annual real-estate tax bill is just $199, based on an effective rate of 0.189%. That rate falls well below Puerto Rico's statewide median of 0.389%, and the county ranks 66th out of 72 within the state, meaning most places there charge more. Nationally, the median effective rate is 0.794%, so Lares remains far cheaper on that measure too. Household income here averages $18,917, with per-capita income at $11,029, so affordability depends heavily on low housing costs. For a buyer, the combination of a six-figure median home price and a tax bill under $200 a year keeps ongoing ownership expenses unusually contained compared with most U.S. markets.

Frequently asked questions

What is the property tax rate in Lares Municipio, PR?
The effective rate is 0.19% — meaning the median tax bill equals about 0.19% of the median home value.
How much are property taxes on a median home?
On the median home ($105,100), the estimated annual bill is about $199.
Is Lares Municipio's rate high or low?
Compare it to the state median of N/A and the national average near 1.1%.
How does the effective rate differ from my mill rate?
A mill rate is the nominal levy per $1,000 of assessed value. The effective rate reflects what you actually pay after exemptions and assessments — it's the median tax bill as a share of median home value, so it better predicts your real cost.
Will a reassessment raise my tax bill?
Not necessarily. If your home's assessed value rises, your bill can go up, but only if the mill rate and exemptions stay flat. Contact the Lares Municipio assessor's office to review your current assessment.
Can I appeal my property tax assessment?
Yes. Most counties allow an appeal when you believe the assessed value exceeds the market value. File with the Lares Municipio assessor within the local deadline, typically with comparable sales as evidence.
Sources
[1] U.S. Census Bureau — ACS 5-Year (2023) — Median home value (B25077), median real-estate taxes (B25103), median household income (B19013), per-capita income (B19301).
[2] IRS — Statistics of Income — County income, AGI, and real-estate taxes paid.
[3] Tax Foundation — State income, sales, corporate, and estate/inheritance tax rates.