P.R. Laws tit. 21, § 5175
Those edified lots included in §§ 5172–5179 of this title, in which the building thus affected is being used by its owner as his/her dwelling, or is producing income, shall be exempt from all property taxes up to fifty percent (50%) of the appraisal value for tax purposes on the lot and the building, as long as the legal restriction to build that causes the exemption persists. Except for newly-constructed multi-level structures devoted exclusively to the vehicle parking business, the properties that produce income because they are being used as lots for the sale of new or used motor vehicles, shall be not be eligible for the benefits of the exemption proposed herein.
History —Aug. 30, 1991, No. 83, § 5.25; Sept. 6, 1996, No. 196, § 2; Dec. 19, 1997, No. 170, § 2.