Reminders

Taxpayers are reminded that property tax is due and payable each year, on or before June 30th.

NB All property bills with arrears, must first be queried at the Customer Service Section, before payment is made. Property bills without arrears should be taken directly to the Cashier Section for payment.

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Vehicle

All vehicle owners whose licence plate ends with 1, must renew their vehicle licence before January 31st. Similarly, if your vehicle licence plate ends with 2, you must renew your vehicle licence before February 29th to avoid interest charges and ticketing fees..

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All insurance companies are reminded that a statement showing the number of policies issued, the value of every policy and any other information required by the Accountant General must accompany the registration fee remittance and the insurance premium remittance. The forms can be found under Form & Guides tab then click on Tax Returns.

 

HOW IS PROPERTY TAX CALCULATED

You can calculate your tax using the appropriate formula below. All of this information will be contained in your Certificate of Value (COV) issued by the Inland Revenue Department.

RESIDENTIAL PROPERTY:

(Property Value - 80,000) x .002 = Tax Payable

COMMERCIAL PROPERTY:

Property Value x .003 = Tax Payable

ACCOMMODATION PROPERTY:

Property Value x .003 = Tax Payable

EXAMPLE: CALCULATION OF PROPERTY TAX

Example of the calculation of tax on residential property in St. Kitts, with a market value of $140,000.00
(Building Value 120,000.00 and Land Value $20,000.00).

LAND VALUE
                                                                
     20,000.00  
TAX ON LAND (20,000 x 0.002)               40.00
BUILDING VALUE                    120,000.00  
SUBTRACT THE EXEMPTION    (80,000.00)  

TAXABLE BUILDING VALUE (120,000 - 80,000)   
40,000.00  
 
TAX ON BUILDING (40,000 x 0.002)   
         80.00
TOTAL TAX DUE (80.00 + 40.00)              120.00

TIPS
  • Here are two benefits of holding a valid Business Licence.

    ·         You would be in good legal standing with the Department, since it is illegal to operate in the Federation without one.

    ·     You would be in a better position to obtain financial assistance from lending institutions, since most institutions conduct business verification checks with the Inland Revenue Department.