Sat | Jan 20, 2018

Strata property owners to wait longer for revised tax rates

Published:Wednesday | April 26, 2017 | 1:20 PM
A partial view of the Oaklands Apartment Complex in St Andrew.

Owners of Strata properties will have to wait longer to know their revised property tax rates.

Tax Administration Jamaica (TAJ) has advised that it will need more time to reconfigure its system to calculate and post the new rates.

It had previously advised that the new rates would have been available by this month end.

The TAJ did not say when the reconfiguration will be completed.

It says the public will be updated as soon as this is done.

The changes to the rates and how they are calculated will now allow for the property tax to be calculated on the proprietor’s share of the total unimproved value of the parcel.

Previously, persons who own a strata lot would have been liable to pay the share of the property tax that is calculated on the total value of the entire parcel. 

This would have resulted in Strata owners paying a higher rate.

Meanwhile, the TAJ says the revised property tax rates for other property owners are now available on its website and at tax offices islandwide.

The agency says the reconfiguration of its system to calculate the new rates for these property owners has been completed.