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.

 

THE VALUATION OF PROPERTY

Based on the information collected, the Inland Revenue officers will determine the value of your property. This is done using a formula, which is influenced by property sales in the same area. There may be other unique factors that influence the value. The value determined is the Market Value.

If the property is unique, that means there are no other similar properties that exist on the area or island, hence no sales data, then the department will use the Replacement Cost Approach. This is the cost to replace the property minus any depreciation. When the valuation is complete, the Department will issue a Certificate of Value (COV which will contain the specifics of the property, and the value on which the tax will be determined.

Periodically, property values will change as the market changes. The Inland Revenue Department will notify the owner of the revaluation. Officers from the Department may visit the property, to update the property information so the new value is based on the most accurate data. The owner will be sent a new COV stating the new value. The last revaluation was done in 2007.

TIPS
  • The Inland Revenue Department accepts Cash, Personal and Manager’s Cheques, Bank Drafts and Postal Money as forms of payment.  Standing Orders may also be arranged. Taxpayers are asked to note that dishonoured cheques attract a fee of EC$146.60.