Property Tax in Trinidad & Tobago

[shake d livin wake d dead]

This was published in the Deloitte Budget Presentation document

b3c6f97d-a708-48a7-b21d-d8e51a20a59a.jpg

I am not sure what is the return that homeowners have to submit.

According to impsbert forms would be mailed to each household..we have to fill it out and submit..he is saying that homeowners would be given the chance to give a value for their homes..if not the relevant people would do it..

[Duane 3NE 2NR]

This was published in the Deloitte Budget Presentation document

b3c6f97d-a708-48a7-b21d-d8e51a20a59a.jpg

I am not sure what is the return that homeowners have to submit.

According to impsbert forms would be mailed to each household..we have to fill it out and submit..he is saying that homeowners would be given the chance to give a value for their homes..if not the relevant people would do it..

What is to stop ppl from under valuing their property?

[shake d livin wake d dead]

His logic..I'm awaiting to see how this gona workout...still trying to see how they would tax empty lots

[EFFECTIC DESIGNS]

Some body has to pay for the infrastructure, such as roads, electricity, schools, security, hospitals and it comes in the form of taxes. Property taxes, VAT, PAYE, Health surcharge, etc and the infamous NIS, scheme and more scheme.

Well Rowley just announce that its not the Government job to provide schools, health facilities or roads anymore and he expects us to stop asking for him to provide these services. And yes he said it with a straight face....

So..... that's that. Here look the video if yuh feel I joking.

[teems1]

Roads, healthcare, education are not dependencies to be weaned off... Those are necessities...

Things like CEPEP, URP, HDC houses for friends/families/party cronies, food cards, useless jobs in public sector for same friends/family/cronies, back pay for said useless employees, free land due to illegal squatting, overpriced contracts with kickbacks to party hacks.

Those are the things the nation needs to be weaned off.

[Kalisnakov]

I en hearing from habit n elite

[dude2014]

Temms1 you are right. The PNM created DEWD Development and Environmental Works Division, now known as URP, CEPEP, A HOST OF OTHER THINGS LIKE SECRET SCHOLARSHIPS, etc. That is the cow manure that we need to be weaned off. The savings would be phenomenal and would be available for investment and reinvestment when the tax thereon is collected.

Also ‘PNM gee meh ah house so dey go get meh vote’ and that include aunt, uncle, grandma/pa and the whole Grenadian/St. Vincentian extended family. HDC houses on prime real estate being sold for 25 % or less of the cost for house and land. That is why the millstone called the PNM is still around our neck.

EFFECTIC DESIGN I know what you talking about. We all know that there is no ‘duncey children’ only duncey adult from Le Coto to White Hall. I am adamant that the citizenry has to pay tax. The problem is the way Government abuse this income/fraudulent manner in which it is spent

[De Dragon]

Roads, healthcare, education are not dependencies to be weaned off... Those are necessities...

Things like CEPEP, URP, HDC houses for friends/families/party cronies, food cards, useless jobs in public sector for same friends/family/cronies, back pay for said useless employees, free land due to illegal squatting, overpriced contracts with kickbacks to party hacks.

Those are the things the nation needs to be weaned off.

Rowley like he wean heself offa sense.............

[gastly369]

Some body has to pay for the infrastructure, such as roads, electricity, schools, security, hospitals and it comes in the form of taxes. Property taxes, VAT, PAYE, Health surcharge, etc and the infamous NIS, scheme and more scheme.

Well Rowley just announce that its not the Government job to provide schools, health facilities or roads anymore and he expects us to stop asking for him to provide these services. And yes he said it with a straight face....

So..... that's that. Here look the video if yuh feel I joking.

And who de fak clapping for dem mc dotish statements?

[viedcht]

^ de party stalwarts

[pjfred]

Rowley said "the people of Trinidad and Tobago are stupid!"

[pjfred]

Rowley said you are all too dependant on the government.

[pjfred]

Rowley also said during election vote for your ethnic group.

[viedcht]

Rowley also said during election vote for your ethnic group.

True?

[pjfred]

It is, on a platform in arima before election's on a Thursday. It was replayed on the Friday on 105.1 and on Sunday morning. We were shocked to see this so called leader purposely using the race card as he inspired tribal voting. We called the media but they didn't care.

[viedcht]

Wow okay.... wasn't aware of that

[sMASH]

Still not aware of that. It is too serious an allegation to run with, without court clothes.

Come with a recording and not testimony, this ain't church.

[shogun]

Still not aware of that. It is too serious an allegation to run with, without court clothes.

Come with a recording and not testimony, this ain't church.

Agreed. Thaz the kind of statement that could seriously depreciate my support for any leader.

[shake d livin wake d dead]

Right now Rowley cud say wtf he want...we have to live with it for the next 4 years...

[sMASH]

25% income tax, 15% VAT on ur purchases. The government already gets 40% of ur earnings.

[shake d livin wake d dead]

So if I have 80 acres of agriculture land with some of it cultivated...what is the tax on that?

[Redman]

25% income tax, 15% VAT on ur purchases. The government already gets 40% of ur earnings.

Really?

[Daran]

So if I have 80 acres of agriculture land with some of it cultivated...what is the tax on that?

Well how much would you rent that land for? Making some very generic assumptions here, but I'd say you can rent an acre for 5k.

So the annual rental value would be 5k x 12 = $60,000.

Subtracting the ATV, that would give $54,000.

So 80 acres you say, well then your tax would be 1% of 80 x 54,000 = $43,200 in Property Tax.

Or if this is easier to digest, $3,600 monthly.

Goodluck horse!!

[Daran]

25% income tax, 15% VAT on ur purchases. The government already gets 40% of ur earnings.

Really?

Wrong assumption by sMASH (and VAT is 12.5% now). But in reality, most people would be giving at least 30% of their income in tax.

[Daran]

So just quickly going over my income, including all taxes, PAYE, VAT, NIS, HS, MVT, duties (averaged out over the year and now adding 7% for a skybox purchases) and now property tax

I pay roughly 32% in taxes.

[shake d livin wake d dead]

So if I have 80 acres of agriculture land with some of it cultivated...what is the tax on that?

Well how much would you rent that land for? Making some very generic assumptions here, but I'd say you can rent an acre for 5k.

So the annual rental value would be 5k x 12 = $60,000.

Subtracting the ATV, that would give $54,000.

So 80 acres you say, well then your tax would be 1% of 80 x 54,000 = $43,200 in Property Tax.

Or if this is easier to digest, $3,600 monthly.

Goodluck horse!!

D mc...look how real men including myself gona raise the price of citrus together with other types of produce...lime going and sell $2 for one...wait for it..

[Dizzy28]

Man owning 80 acres of land and toting on paying 1% the ARV as property tax??
Even land czars can be sufferers!!!!

[pete]

How to get people to sell/put to use the land they are just sitting on I guess.

[sMASH]

I forgot vat is 12.5, because although that is less, prices haven't really dropped.

So is just to point out, that the government is already getting a big chunk of ur money. Yet we have little value to show for it. And now want to tax u on a house that u already had income and VAT charged on it.... each year and every year after.

Bring back the land tax, not the building tax.





Using the rentable value of a property is also absurd, because in theory it is supposed to assess how drainage , road works, utility availability, public services, have been developed.
In reality, it takes how the other people have developed their properties, I.e. Their big houses, the malls, the supermarkets.


That is unfair to increase taxes on my property by assessing that other values have increased, and therefore mine has to increase. It is immoral when the income has not increased.
In that situation, there is no Limit to how high a regal value can appreciate, based on typical valuation tactics.


Prime example is those living in the housing developments at ste. madline. Those were low cost housing, but since the teaching collage, highway extension, South park and now movie town complex, their valuations would increased exponentially.
U will say thusly have come out lucky, and yes, they did.
But none of that was out of their earnings, which more than likely did not increase by any proportional amount.
So, they would have to pay a higher tax for no fault of their own, and no amenity provided by government.
Yet the government will want to capitalize on it.


Rental value is the wrong way to assess value.
I will end up with a similar properties paying vastly different taxes for the mere reason of location and not the usage. And the increase in income would not scale with the development if the area

[shake d livin wake d dead]

Man owning 80 acres of land and toting on paying 1% the ARV as property tax??
Even land czars can be sufferers!!!!

As long as i make that tax through what is being sold from the land i happy...in a nutshell i can guarantee an increase in food prices just now...especially when farmers realise how much they have to pay for that tax...and they saying agriculture is a priority...please eh..