Jamaican Government reduces property tax rates
Key Points(4)
- The Andrew Holness-led administration has announced a reduction in property tax rates with Finance Minister Audley Shaw indicating that a flat rate of one thousand dollars will be kept on all properties with a value of up to J$400,000.
- In a statement to Parliament on Tuesday, Shaw said the new flat rate would benefit over 100,000 persons, including small farmers.
- However, the owners of large properties such as hotels and commercial entities will still face massive increases.
- In making reference to those who have already made payments as of April 1, the Finance Minister said they can be refunded or have the funds credited to their 2018/2019 property tax bills.
The Andrew Holness-led administration has announced a reduction in property tax rates with Finance Minister Audley Shaw indicating that a flat rate of one thousand dollars will be kept on all properties with a value of up to J$400,000.
In a statement to Parliament on Tuesday, Shaw said the new flat rate would benefit over 100,000 persons, including small farmers.
However, the owners of large properties such as hotels and commercial entities will still face massive increases. In making reference to those who have already made payments as of April 1, the Finance Minister said they can be refunded or have the funds credited to their 2018/2019 property tax bills.
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