FARMERS WHO suffer losses because of natural disasters may be eligible for property tax relief, according to Norma Kerr-Clarke, Commissioner of the Inland Revenue Department.
Mrs. Kerr-Clarke said where small farmers have been affected, they could request that they be allowed more time by the tax department to pay any outstanding balances, while farmers engaged in "substantial agriculture" could request a 50 per cent de-rating on their property taxes for two to three years. However, this relief does not include aquaculture.
And according to her, where there is a major disaster and the damage is great, persons may appeal to the Minister of Finance to grant a total relief from the payment of the tax.
APPLY FOR A DE-RATING
In determining whether a farmer is engaged in substantial agriculture, Mrs. Kerr-Clarke said the amount of land that was in cultivation and the yield per acre before the disaster were considered. It was therefore important farmers apply for a de-rating before a disaster strikes, to facilitate the valuation of their farm.
Mrs. Kerr-Clarke said farmers wishing to apply for a 50 per cent de-rating may do so at the nearest tax collectorate. The application would be forwarded to the Land Valuation Department to have a valuator assess whether a farmer qualifies for a tax relief.
A report is then sent to the Land Taxation Relief Board where a determination is made.
In addition to the 50 per cent relief granted to farmers, Mrs. Kerr-Clarke said that certain exemptions were granted under the Property Tax Act to include schools approved by the Ministry of Education; churches, including manses, places of worship and burial grounds; hospitals and government-owned lands.
