Property Tax in Trinidad & Tobago

[nemisis]

we should have a tuner poll to see who really yearing and wanting to pay property tax...as staed by our minister

you using that OUR loosely

[The_Honourable]

During the 2016 budget presentation, Finance Minister Colm Imbert said his Government will implement the Property Tax Act 2009 from January 2016 using old levels and old rates as a starting point. How is this tax calculated?

[The_Honourable]

Fitzgerald Hinds on the property tax:

[sMASH]

F.s. 1vote asking price certificate of comfort for squatting land.

[janfar]

[The_Honourable]

TAX MAN COMETH
By: Andre Bagoo

FINANCE Minister Colm Imbert yesterday said the State will hire “an army of young people” to be Value Added Tax (VAT) collectors in order to implement plans to make the collection of the tax more effective.

The Minister also disclosed that he is seeking legal advice on the question of whether fresh legislation is needed to allow the State to implement Property Tax which has been in abeyance in recent years.

Imbert was questioned on both matters by Opposition MPs as the Standing Finance Committee of the House of Representatives continued its examination of the Budget.

On VAT, Imbert was asked whether current staffing arrangements at the Ministry of Finance will be sufficient to implement current plans meant to result in the collection of an additional $6 billion in revenue.

“Does the Minister anticipate that can be properly collected with the same staffing,” Opposition Whip Dr Roodal Moonilal asked.

“Madam Speaker, we intend to implement the adjustments in the VAT regime from January 1, that is clearly stated in the Budget statement,” Imbert said.

“We will be hiring an army of young people, graduates and others and training them to do VAT collections...Between now and December 31, we will be reviewing the staffing requirements required to enhance collections and we will make appropriate adjustments to the allocation.” While a reduction of the VAT rate has been announced, VAT is to be re-introduced on items that were previously VAT-free. Moonilal said a list of which items will now have VAT is yet to be supplied by the Government. According to the Draft Estimates of Recurrent Expenditure, the initial allocation for the Inland Revenue Division for 2015 was $85 million. This was revised to $111 million, but the 2016 estimate is now $90 million, a decrease of $20 million.

Imbert also said the planned Revenue Authority is due to commence operations by September 30, 2016 under accelerated plans for implementation, meaning the allocation for that new entity would be reflected in documents for the next Budget.

In relation to Property Tax, Imbert said the State will be hiring, “another army of people” to do the valuations of properties all over the country. He suggested that recent aerial photography exercises may assist this process. He said the law has been in force, but not implemented due to Parliament amendments.

He said about one-third of properties have already been identified and levels and rates from 2009 may have to be used for properties already on the rolls.

“What’s going to happen is a combination of old levels and rates and then for new properties we will have to formulate a rate so there is some sort of equity,” Imbert said.

“In fact, an amendment may be required, that is the advice I have received and I am getting a second opinion on that as to whether we need to amend the legislation immediately in order to allow ourselves to implement the old levels and rates.” Imbert said the appointment of a procurement regulator, under new legislation, has been initiated by President Anthony Carmona and before the end of the year the new system of public procurement will be in operation.

Source: http://www.newsday.co.tt/news/0,218558.html

[zoom rader]

^^^ Most of those are going to be young PNM recruits.
Expect extreme bias if you look like a doubles vendor with a nice house.
Under PNM You must live in shack

[Morpheus]

^^LoL. Keep it coming ZR......

[De Dragon]

^^LoL. Keep it coming ZR......

He's being facetious but there is going to be bobol for sure. Imagine you getting ah $600.00 week, and ah man pay yuh ah cool $1500.00 to downgrade he property.

[pete]

We need transparency. All property values should be visible online. I picked a random town in Florida and was able to see the values of properties at a valuation website. Once it's like that and you can query why your neighbour with a 15 house mansion is valued at less than your 2bedroom 1 bathroom bungalow all that bribing to get a lower valuation would stop. Have stiff penalties for undervaluing properties up to termination and full auditing to see if you were accepting bribes to lead to imprisonment.

[De Dragon]

I hope there is genuine consultation via surveys, town hall meetings, best practices etc, so it can really be an equitable process

[shake d livin wake d dead]

how would the property tax apply to squatters without comfort letters?

[zoom rader]

We need transparency. All property values should be visible online. I picked a random town in Florida and was able to see the values of properties at a valuation website. Once it's like that and you can query why your neighbour with a 15 house mansion is valued at less than your 2bedroom 1 bathroom bungalow all that bribing to get a lower valuation would stop. Have stiff penalties for undervaluing properties up to termination and full auditing to see if you were accepting bribes to lead to imprisonment.

Go on to any UK housing market net site and they will always show the tax rates payable.

But in trini your house will be assessed by some young PNM stooges and as I said if you look like you can sell doubles then its double tax for you.

[zoom rader]

I hope there is genuine consultation via surveys, town hall meetings, best practices etc, so it can really be an equitable process

Will never happen, once you from a perceived UNC area expect to pay taxes with little in return.

Always remember PNM has a habit of not serving UNC areas

[*$kїđž!™]

so all those ppl who get free hdc houses...would they be required to pay property tax too?

Can believe ppl voted for this.....imagine the middle class struggling to own a property and now having to pay taxes on it?.....plus subjective valuations by army of young people....hmmm makes no damn sense to me.....

All this govt concerned with is taxes.....I dunno how citizens can support this....

Also pensioners who worked hard all their life and living in ok homes .....would pensioners still have to pay taxes?...

how is the rate calculated......

value: $1 000 000 x rate of 3% = $30 000.....

Is this how it works?....it cant be....could anybody explain...

[zoom rader]

so all those ppl who get free hdc houses...would they be required to pay property tax too?

Can believe ppl voted for this.....imagine the middle class struggling to own a property and now having to pay taxes on it?.....plus subjective valuations by army of young people....hmmm makes no damn sense to me.....

All this govt concerned with is taxes.....I dunno how citizens can support this....

Also pensioners who worked hard all their life and living in ok homes .....would pensioners still have to pay taxes?...

how is the rate calculated......

value: $1 000 000 x rate of 3% = $30 000.....

Is this how it works?....it cant be....could anybody explain...

I did tired hard to warn you all.

[Habit7]

so all those ppl who get free hdc houses...would they be required to pay property tax too?

Who got free HDC houses?

[*$kїđž!™]

Some ppl got free homes others have to make small payments very small payments.....where u living?.

[pete]

No that's not how it will be calculated. A 1million dollar house might rent for 4to6k a month depending on the area so 3% of 48 to 72k a year or 1400 to 2200 a year in property tax.

Sent from my LG-P880 using Tapatalk

[Habit7]

Some ppl got free homes

Well you need to carry your info to the police.

Nevertheless

No that's not how it will be calculated. A 1million dollar house might rent for 4to6k a month depending on the area so 3% of 48 to 72k a year or 1400 to 2200 a year in property tax

[Clara]

Many of you don't know this Histery of Property Tax.

It goes back as far as slavery times when Africans slaves were free, but were basically abadonded pennyless, jobless and homeless. Africans were sabotaged because we fought for freedom.

When the indians came to work the lands that africans toiled for centuries, they were better treated (undeniable) and were able to maintain family, culture and religion. Then when that indentureship was over, they were allowed to settle and work the lands.

They were GIVEN lands and opportunities that africans were not. Plain and simple.


So all this talk about property tax being an Injun Tax. Many may not say it, but think about it. It is right and fair.

Indians were given things that africans weren't. This is why so much of them have big house and land everywhere. It came to them too easy.

Property tax levels the playing field. It is not unjust.

Yes many of you will say you or your parents were poor and worked hard. But you all fail to realize the headstart you were given by inheritance/family life/culture/religion. All of which we africans lost.

There is no love lost between us races. We live in harmony and only election time racism rares it's ugly head, but to declare property tax unfair is too deny your forefathers fortunes helped made you who you are today.

[zoom rader]

No that's not how it will be calculated. A 1million dollar house might rent for 4to6k a month depending on the area so 3% of 48 to 72k a year or 1400 to 2200 a year in property tax.

Sent from my LG-P880 using Tapatalk

If that is how they plan to work it out then it seem fair.

But again you can't trust PNM as that is 3% for now at the rate PNM going expect to pay equivalent of one month rent by they time get kicked out of office.

[Daran]

No that's not how it will be calculated. A 1million dollar house might rent for 4to6k a month depending on the area so 3% of 48 to 72k a year or 1400 to 2200 a year in property tax.

Sent from my LG-P880 using Tapatalk

Now who determines the rental cost and valuation? As the two are not always correlated.

Case 1 - My family has a property that was recently valuated at 1.6M and rents for 12k/mo.

Case 2- My brother in law has a house in central, split into 3 apartments, each rent for 5K/mo and his was recently valued at 1.2M

[pete]

Well as its split into 3 apartments it will be valued as 3 units to pay tax on. So should be 1800 per apartment per year.

Sent from my LG-P880 using Tapatalk

[*$kїđž!™]

But you all fail to realize the headstart you were given by inheritance/family life/culture/religion. All of which we africans lost.

There is no love lost between us races. We live in harmony and only election time racism rares it's ugly head, but to declare property tax unfair is too deny your forefathers fortunes helped made you who you are today.

BS I got no inheritance and was flat broke when I had to get a job at an early age....worked hard all my life ...so u cannot come and say inheritance cause ppl to be better off...it's all hard work with no help from anybody

[Daran]

But you all fail to realize the headstart you were given by inheritance/family life/culture/religion. All of which we africans lost.

There is no love lost between us races. We live in harmony and only election time racism rares it's ugly head, but to declare property tax unfair is too deny your forefathers fortunes helped made you who you are today.

BS I got no inheritance and was flat broke when I had to get a job at an early age....worked hard all my life ...so u cannot come and say inheritance cause ppl to be better off...it's all hard work with no help from anybody

I'm pretty sure she's either a troll or one of those black victimist reparation seekers.

Either way, ignore.

[zoom rader]

Many of you don't know this Histery of Property Tax.

It goes back as far as slavery times when Africans slaves were free, but were basically abadonded pennyless, jobless and homeless. Africans were sabotaged because we fought for freedom.

When the indians came to work the lands that africans toiled for centuries, they were better treated (undeniable) and were able to maintain family, culture and religion. Then when that indentureship was over, they were allowed to settle and work the lands.

They were GIVEN lands and opportunities that africans were not. Plain and simple.


So all this talk about property tax being an Injun Tax. Many may not say it, but think about it. It is right and fair.

Indians were given things that africans weren't. This is why so much of them have big house and land everywhere. It came to them too easy.

Property tax levels the playing field. It is not unjust.

Yes many of you will say you or your parents were poor and worked hard. But you all fail to realize the headstart you were given by inheritance/family life/culture/religion. All of which we africans lost.

There is no love lost between us races. We live in harmony and only election time racism rares it's ugly head, but to declare property tax unfair is too deny your forefathers fortunes helped made you who you are today.

What a load of chit you wrote, Slavery in Trinidad was only for some 37 years and most slave owners where black men or French creole.

Indians was never given lands, they had to pay for it.

You PNM ppl are so ignorant and don't even know Trini history.

[zoom rader]

No that's not how it will be calculated. A 1million dollar house might rent for 4to6k a month depending on the area so 3% of 48 to 72k a year or 1400 to 2200 a year in property tax.

Sent from my LG-P880 using Tapatalk

Now who determines the rental cost and valuation? As the two are not always correlated.

Case 1 - My family has a property that was recently valuated at 1.6M and rents for 12k/mo.

Case 2- My brother in law has a house in central, split into 3 apartments, each rent for 5K/mo and his was recently valued at 1.2M

Bro just raise the rent if they charging for each apartment to cover the cost of tax. Tenants need to know who they voted for.

[SMc]

Many of you don't know this Histery of Property Tax.

It goes back as far as slavery times when Africans slaves were free, but were basically abadonded pennyless, jobless and homeless. Africans were sabotaged because we fought for freedom.

When the indians came to work the lands that africans toiled for centuries, they were better treated (undeniable) and were able to maintain family, culture and religion. Then when that indentureship was over, they were allowed to settle and work the lands.

They were GIVEN lands and opportunities that africans were not. Plain and simple.


So all this talk about property tax being an Injun Tax. Many may not say it, but think about it. It is right and fair.

Indians were given things that africans weren't. This is why so much of them have big house and land everywhere. It came to them too easy.

Property tax levels the playing field. It is not unjust.

Yes many of you will say you or your parents were poor and worked hard. But you all fail to realize the headstart you were given by inheritance/family life/culture/religion. All of which we africans lost.

There is no love lost between us races. We live in harmony and only election time racism rares it's ugly head, but to declare property tax unfair is too deny your forefathers fortunes helped made you who you are today.

Who teach you that?

Trinidad was very late when it comes to slavery and there was only(relatively) around 60 years where the slavery you refer to took place here, so I'm not so sure about the centuries bit you see as a justification for a tax that affects everyone that owns a property. BTW do the Portuguese and Chinese descendants suffer the same ill fate as the Indian descendants or is it only specific to that group of migrants?

[zoom rader]

Many of you don't know this Histery of Property Tax.

It goes back as far as slavery times when Africans slaves were free, but were basically abadonded pennyless, jobless and homeless. Africans were sabotaged because we fought for freedom.

When the indians came to work the lands that africans toiled for centuries, they were better treated (undeniable) and were able to maintain family, culture and religion. Then when that indentureship was over, they were allowed to settle and work the lands.

They were GIVEN lands and opportunities that africans were not. Plain and simple.


So all this talk about property tax being an Injun Tax. Many may not say it, but think about it. It is right and fair.

Indians were given things that africans weren't. This is why so much of them have big house and land everywhere. It came to them too easy.

Property tax levels the playing field. It is not unjust.

Yes many of you will say you or your parents were poor and worked hard. But you all fail to realize the headstart you were given by inheritance/family life/culture/religion. All of which we africans lost.

There is no love lost between us races. We live in harmony and only election time racism rares it's ugly head, but to declare property tax unfair is too deny your forefathers fortunes helped made you who you are today.

Who teach you that?

Trinidad was very late when it comes to slavery and there was only(relatively) around 60 years where the slavery you refer to took place here, so I'm not so sure about the centuries bit you see as a justification for a tax that affects everyone that owns a property. BTW do the Portuguese and Chinese descendants suffer the same ill fate as the Indian descendants or is it only specific to that group of migrants?

Slavery was for less that 37 years in trini.