In regards to the yearly property tax exemption, any property that is worth RD$5,000,000 (approx. US$150,000) and under, according to government appraised value and not purchase price or market value is tax exempt. The government appraised value is a lot less than purchase price or market value. If the government appraised value exceeds RD$5,000,000 (approx. US$150,000), the first RD$5,000,000 (approx. US$150,000) are exempt and you pay 1% on the amount that exceeds RD$5,000,000 (approx. US$150,000).
For example, government appraised value US$200,000, first US$150,000 exempt, US$50,000 additional only pay 1% or US$500 per year. A property that has a government appraised value of US$200,000, probably has a market value of US$300,000 or more.