July 26, 2021

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They allege Miguel Romero obtained a housing discount for tax benefits

photo: Cybernews

SAN JUAN – The candidates for the Senate for San Juan for the Victoria Ciudadana Movement, Marilú Guzmán and Rosa Seguí, alleged this Sunday that the candidate for mayor of San Juan, Senator Miguel Romero, promoted tax benefits to developers in exchange for a discount of a house.

According to Guzmán and Seguí, Romero received a 57% discount per square foot on the purchase of a luxury apartment in the Mirador del Parque Condominium in Hato Rey, when he was the secretary of the Labor Department under the government of Luis Fortuño ( 2009-2013), they said in a press release.

And during that time, Romero, who was also part of Fortuño’s economic team, promoted the creation of a tax exemption program for the purchase of homes.

As revealed by the candidates, on September 2, 2010, Fortuño signed the Law to Stimulate the Real Estate Market, Law 132-2010.

This law created a tax exemption program to facilitate and promote the purchase of homes and other real estate by granting tax benefits.

It, likewise, had a time restriction to participate in this program, supposedly to encourage purchases.

Two months later, on November 28, 2010, Guzmán and Seguí specified, Romero closed the $ 403,000 mortgage on the apartment.

And according to Seguí, as a beneficiary buyer of Law 132-2010, Romero did not have to pay taxes to the Municipal Revenue Collection Center (CRIM) for his apartment from 2011 to 2015, while the rest of the population paid the special CRIM surcharge imposed under Law 7, until the summer of 2013.

“Romero not only bought the largest apartment that was sold in the Mirador del Parque that year, but he got it with a discount of 57% cheaper per square foot, than the other apartments sold in the condominium, in 2010”, I continued.

Instead, on December 29 of that same year, one of his neighbors bought an apartment, which is half the size of Romero’s apartment, for $ 471,200. This represents 121% more expensive per square foot ”, he added.

For his part, Guzmán added that the senator was not the only one who benefited, but alleged that the developers of the condominium did not pay taxes on their sales profits, which amounted to 3.68 million dollars, during the 10 months stipulated Law 132-2010.

“Over and over again it is shown that the old politics, in this case of the PNP and Miguel Romero, only seek to come to power for their benefit and that of their friends of the soul,” the aspirants concluded.

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