Property Tax in Trinidad & Tobago

[adnj]

Typically, a tax sale auction is used. The seized property is sold at auction to the highest bidder. The title holder has the right to vacate the sale by repaying the auction buyer, accepting the sale and taking a loss, or accepting a sale and getting any excess funds from the sale. In some cases that I have heard of, the original owner bid at auction for the seized property. The lien holder (the State) cannot accept funds in excess of what is owed.

There is normally a cost for holding the auction that gets added to interest and penalties due.

That is what is done in the US and Canada. I have no idea what will happen in Trinidad. But I'm sure that we'll find out within six years.

I want to know something about this proposed BS tax
If the state seizes property for non payment of of this property tax, property is NOT revenue, so to get the revenue, they have to sell the seized property.
What's their proposed method for selling that property? Auction? Sealed bids/tenders? Behind closed doors aka racket ting?
What value will the seized property be sold for? Only for the taxation owed? Market value? If being sold only for the for taxation owed, where they getting the money yo compensate the property owner? yuh cant seize a property someone paid 2 million for, & sell it for 75K & leave them with nothing. So it hadda sell at market value.


I gettin the strong suspicion that some dutty politicians gonna be looking to buy seized properties at taxation owed amounts behind closed doors, only to sell at market values, swiftly making instant profits.

[88sins]

Who ever buys it will inherit the property tax that is owe.

nope, the buyer doesn't inherit the taxation owed, that's paid for by the sale, they deducting that & all costs first thing.

Typically, a tax sale auction is used. The seized property is sold at auction to the highest bidder. The title holder has the right to vacate the sale by repaying the auction buyer, accepting the sale and taking a loss, or accepting a sale and getting any excess funds from the sale. The lien holder (the State) cannot accept funds in excess of what is owed.

this is a serious issue

There is normally a cost for holding the auction that gets added to interest and penalties due.

that they take automatically out the proceeds of the sale.

[EFFECTIC DESIGNS]

So what went on with the UNC motorcade against this property tax Sunday gone? anything useful come out of that?

[88sins]

highly unlikely

[ADONI]

So anybody fill out the form, that was sent in the mail or???

[adnj]

The State deducts from the proceeds what is owed.

Example:

Taxes owed $1000
Interest and penalties $2000
Cost of the auction sale $2000
Auction sale price $50,000

The State keeps $5000 and returns $45,000 to the owner.

Keep in mind that the $50,000 auction price was probably just a percentage of the appraised value of the property.

Who ever buys it will inherit the property tax that is owe.

nope, the buyer doesn't inherit the taxation owed, that's paid for by the sale, they deducting that & all costs first thing.

Typically, a tax sale auction is used. The seized property is sold at auction to the highest bidder. The title holder has the right to vacate the sale by repaying the auction buyer, accepting the sale and taking a loss, or accepting a sale and getting any excess funds from the sale. The lien holder (the State) cannot accept funds in excess of what is owed.

this is a serious issue

There is normally a cost for holding the auction that gets added to interest and penalties due.

that they take automatically out the proceeds of the sale.

[Mezeker]

[sMASH]

As the recognized government if this island, they already have that leverage.
This document just extends that power to use valuation as another legally recognized cause to invade ur privacy.


That is one of the things of this property tax I wanted changed... to not permit entry into the confines and privacy of ones personal abode.
Check out the land, and the structure from the outside.

You can refuse to allow them into your home even though there is a legislation that will allow them.
They will simply stay on the road way and guesstimate the info that they need but will put you in the highest tax band. When you get your tax to pay and realise it way too much you will either pay it or refuse. The refusal process is exhaustive and during that time you still have to pay it and interest builds.. You just giving your self a set of run around, trouble and in the end of the day after the correct information is sorted out it's the same tax you will have to pay as if you did let them in.
It's a simple case of refusal and you will pay the highest value in the tax band. More money for the government if you refuse. Now you can take them to court for all these things but will it be worth it ?
After saying all of that I don't support the method that they will use to derive the tax.

u all forgot the part where they will not be held liable for any damages and molestation for any activity in entering the premises.

hold my cup....

[sinister_14]

https://m.facebook.com/story.php?story_ ... 4850829214

[sinister_14]

https://m.facebook.com/story.php?story_fbid=221416361696723&id=100014850829214

Take a look at this video this is why we have to pay property tax...wake d fack up...

[matr1x]

Anyone who thinks this or any regime will lower tax rates are not just stupid but really lacking intelligence.

The goal of the pnm and their supporters is to make you feel there is nothing that can be done. But there is a fight that can still be had.

Anyone who signs this form is entering an agreement with the government that allows them to do whatever they want. Including coming and photographing your rooms.

Anyone bringing up the fact that other countries pay property tax, without understanding the nature of their tax structure or even system of infrastructure management shows that these people (pnm supporters ) have constipation of thought and diarrhea of speach.

[rspann]

Like i said, take win. If you feel you can teach me anything about real estate and what the banks are doing ,go right ahead. I'm sure that anybody who knows me will think differently. .

spann eh know nothing about real estate and banks.... all he know is how to straighten mash up car

You would tink all that money he makin he could afford to buy a house and land by now.

Why I must buy , when I could squat and doh pay no tax?

[rspann]

1625 Se 10 Avenue 707
Fort Lauderdale, FL



Owner Name Ramadhar,prakash
Address 1625 Se 10 Avenue 707
City Fort Lauderdale
State FL
Land Use Condominium
Land Size
Legal Description Runaway Bay Condo Unit 707

I wonder if he paid his taxes for 2017 already ,or if he will refuse to pay it?
AXE DE TAX!

[shake d livin wake d dead]

drove by that place....it sweet to bad^

[EFFECTIC DESIGNS]

It have a man on 90.5 fm right now talking about this tax

http://v6.player.abacast.net/826

live link

[bluesclues]

1625 Se 10 Avenue 707
Fort Lauderdale, FL



Owner Name Ramadhar,prakash
Address 1625 Se 10 Avenue 707
City Fort Lauderdale
State FL
Land Use Condominium
Land Size
Legal Description Runaway Bay Condo Unit 707

I wonder if he paid his taxes for 2017 already ,or if he will refuse to pay it?
AXE DE TAX!

Axe de fatca

Lol

[sMASH]

It have a man on 90.5 fm right now talking about this tax

http://v6.player.abacast.net/826

live link

talking one pack a crap. they are arguing the WRONG points. they are saying that let the property tax man to write to u personally and then fill out the form, because there isn't enough time for people to understand what is goin on.

are are complaining about the things, but not actully posing solutions, or recommendations to amend it by.

i want to hear what is the plan to CHANGE the property tax act, and not just ra ra ra, property tax bad, ra ra ra, dont pay it, ra ra ra, it bad.

give me an action plan on what we are doing to change it.

[EFFECTIC DESIGNS]

^ who is this man? he is from the former PP government not sure if he is Kevin Ramnarine?

lol it have a UNC fella does call this program every night his name goes by pete, a couple months ago the man call and say how Rowley rounding up Indian people all over the country and exterminating them in concentration camps.

I does wonder what he does be drinking or smoking.

[EFFECTIC DESIGNS]

Here what he saying, he saying do not fill in the form, because if you do fill it in and send it in you will be legible to pay the tax you agreed to.

He believes the government will backpedal on this Tax, so I guess if he right then all ah we who fill out that form and send it in made a big mistake.

[EFFECTIC DESIGNS]

Ok the guest speaker is actually Vassant Barath.

[car]

What about the $500 if you don't fill out the form?

[EFFECTIC DESIGNS]

What about the $500 if you don't fill out the form?

Well according to Vassant, once the PNM repeal this property tax you won't have to worry about the $500 penalty. I dunno he seem confident that once enough people stand up and refuse to pay this, the PNM will repeal this tax

[maj. tom]

Well why the opposition didn't do something about it while the bill was in Parliament?

Nope, this is how they will cyak on a platform and get in a frenzy and bawl Hanuman name and blame the other party for doing this and that, while getting the brownie points where people feeling oppressed. Same thing every time, both parties.

[sMASH]

all they gonna do, is just mass print out forms, and just sticker ur specific details to make u have to file the document, and be charged for the $500.
if they don't come around to collect it, they will just move in areas and collect their dues according to logistics.

there is nothing to cause them to repeal this thing except court injunction or mass protest.

but trinidadians too coward to stand up. hopefully the unc gets a judge to grant an injunction, until its amended.




* they had five years to iron the draconian details before it could be rolled out, but now they want we to clamor against it.*

[EFFECTIC DESIGNS]

^ well Vassant now say if this Tax does go through and you do not pay it, they can come into your property and seize your vehicle or Stove or Fridge etc. Apparently this is the plan they are not gonna seize your house just like that they are starting with your appliances, electronics and vehicle first.

Aah boy Kamla eh the woman we give a 2/3 majority to repeal this thing and she drink rum for 5 years.

[sMASH]

yes, within the 5 years, they can use ur assets, whether on the premises or on another site, to recover the taxes unpaid. after that 5 years, the president can write something allowing them to seize the property


so, what would be the mailing address of someone without a property?

[EFFECTIC DESIGNS]

yeah but them doing in the Beetham to seize anybody fridge or vehicle there?

[car]

yes, within the 5 years, they can use ur assets, whether on the premises or on another site, to recover the taxes unpaid. after that 5 years, the president can write something allowing them to seize the property


so, what would be the mailing address of someone without a property?

I remember reading that this property tax is somehow connected to BIR. So does this mean that they can pull the tax from your pay?

[drchaos]

yes, within the 5 years, they can use ur assets, whether on the premises or on another site, to recover the taxes unpaid. after that 5 years, the president can write something allowing them to seize the property


so, what would be the mailing address of someone without a property?

I remember reading that this property tax is somehow connected to BIR. So does this mean that they can pull the tax from your pay?

They don't really pull tax from your pay, your employer sort of pays it from your salary. So not really possible.

[88sins]

yes, within the 5 years, they can use ur assets, whether on the premises or on another site, to recover the taxes unpaid. after that 5 years, the president can write something allowing them to seize the property


so, what would be the mailing address of someone without a property?

I remember reading that this property tax is somehow connected to BIR. So does this mean that they can pull the tax from your pay?

the BIR doesn't deduct PAYE/HS from your pay, your employer does that & sends it to BIR

there is a provision for garnishing wages wrt PAYE/HS/NIS, problem is it damn near impossible to enforce. I haven't seen any provision to garnish wages in the act, tho I might have missed it.