UPDATED: Revised property tax rates take effect Monday
Tax Administration Jamaica (TAJ) is advising property owners that the revised rates announced by Finance Minister Audley Shaw will take effect Monday instead of today as was previously announced.
Director of Communications at the TAJ, Meris Haughton says this is to facilitate the gazetting of the revised rates.
The agency says a result of the revision, 58 per cent of property owners will now see a reduction or no change in rates.
However, TAJ says the others will see increases ranging from a low of 10 per cent to a high of 58 per cent.
Residential property owners will see the lowest rate of increase at 10 per cent, followed by agricultural properties at 40 per cent.
Commercial property owners will see the highest rate of increase at 58 per cent.
In the meantime, TAJ says those who disagree with their valuations may still object by serving a notice of objection.
Those experiencing difficulties paying their property taxes can still apply for waivers or discretionary relief based on hardships.
Further details can be obtained from the TAJ website at www.jamaicatax.gov.jm