Tax Administration Jamaica (TAJ) is advising property owners that property tax for the financial year 2013-14 becomes due on April 1, 2013, at which time new rates recently announced by the Government take effect. Persons will have until April 30 to make payments, without attracting any penalty.
As a result of the change in the rates, all properties with an unimproved value of up to J$100,000 will now be charged a flat rate of J$1,000. Properties with values exceeding J$100,000 up to J$1,000,000 will attract an additional 1.5 per cent for every additional dollar above J$100,000. Properties with values exceeding J$1,000,000.00 will attract an additional two per cent for every additional dollar.
With the increase in property tax taking effect, persons are reminded that property tax payments may be made in half-yearly instalments on April 1 and October 1 or in quarterly instalments April 1, July 1, October 1, and January 1. Payments in full, or any instalment should be made within the calendar month in which the amount is due. It should be noted however that periodic payments do not apply to the flat rate charge of $1,000, which is due on April 1 and must be paid in full by April 30.
If the tax is not paid within the applicable month, then payment of tax, penalty and interest may be enforced as provided under the law. Unpaid taxes will incur a penalty charge of 10 per cent, and interest charge of 15 per cent per annum until paid in full.
Property owners are also reminded that payments may be made:
- Online via the Jamaica Tax Portal at www.jamaicatax-online.gov.jm.
- By Electronic Drop Boxes at major tax office, for persons paying by cheque.
- In-line at any of the 29 tax offices island wide.
There is also the added convenience or paying on a Saturday at the Portmore Tax Office from 10:00 a.m. to 4:00 p.m.
In addition to the current period which becomes due on April 1, efforts are being made to address the issue of property tax arrears, which now stands at $6.4B. The tax authority in partnership with personnel from the Ministry of Local Government and Community Development is increasing its enforcement and collection activities to recover the outstanding amount.
Property owners in arrears are therefore liable to have strong action taken against them, in accordance with the tax laws. TAJ is, therefore, appealing to property owners to make every effort to settle their outstanding property taxes.
Persons are advised to speak with the compliance staff at TAJ to make suitable arrangements, if they are faced with difficulties in paying their property tax arrears, to avoid possible Court action.
For more information person may call 1-888-TAX-HELP (1-888-829-4357) (local) or 1-888-GO-JATAX (1-888-46-52829) (USA) or visit www.jamaicatax.gov.jm.
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