Help available for persons challenged with paying revised property taxes – Shaw reminds
The Finance Minister Audley Shaw is reiterating that measures are in place to help persons experiencing difficulties paying the revised property tax rates.
The new rates become effective on April 1.
Shaw says property owners can challenge the new property tax values issued by Tax Administration Jamaica.
In addition, the finance minister says there is relief for pensioners, persons with disabilities as well as persons who are experiencing genuine hardships.
For people with residences in a commercial area, there is Statutory Relief available.
Where a residence is used as a place of business, owners can get a 25 per cent reduction on their income tax returns.
Shaw is also reminding that arrangements are in place for property taxes to be paid in instalments.
Those whose properties are used for agricultural purposes can apply for an Agricultural Derating Relief, which can be as much as 50 per cent of the annual tax.
The new rates are now being calculated based on the 2013 valuation of properties instead of the 2002 valuation that was previously used.