Revised tax assessments now available for strata property owners
Four months after the government announced new property tax rates, Tax Administration Jamaica (TAJ) says the revised assessments for owners of strata property are now ready.
The revised tax assessments for strata properties were not previously available because the TAJ says its computer system was not yet updated to calculate them.
The new rates became due April 1.
In a release this morning, TAJ said the assessments reflecting the new rates are now available on its website at https://www.jamaicatax.gov.jm/ and at its offices islandwide.
According to the tax collection agency, the revision of the strata property assessments has resulted in a more equitable property tax for strata property owners.
The change will allow for the property tax to be calculated on the proprietor’s share of the total unimproved value of the land.
Previously, strata property owners were liable for the share of the property tax that was calculated on the total value of the entire parcel, which meant the value fell in a higher band and therefore attracted a higher tax.