Property Tax in Trinidad & Tobago

[drchaos]

Also why is he paying for his land twice over with his mortgage??? This guy needs to shop around for better mortgage rates.

It makes me cringe when people complain about the cost of living here in T&T.

$4803 per month over 30 years is almost $1.8m for a borrowed amount of 900,000

Many won't get lower than 4.5% interest rate.

borrowed 420k at 8% and total payment after 25 years is 948k. And you still have to add in the fees to get the mortgage. Easily hit close to 1M.

Small money loans you wouldn't pay double the amount. Like around 200k and less.

Das rough boy ... why you taking a mortgage for 25 to 30 years??? Move smart and sacrifice and do ah 10 years so your interest is uber low!

[drchaos]

"What value do I get from my tax dollars? I pay 25% of my salary to the government every year.

Every item I purchase I pay value added tax of 12.5%.

I pay for my electricity and water.

I pay for my fuel which by the way has increased three times over the last two years. That alone has driven the cost of goods and services up. Everything revolves around transportation. When fuel prices increase therefore, so will everything else.

I shop locally and pay three and four times the value of items I purchase. This is a day of information technology. At a touch of a button I can see what the value of any item is worth.

I opt to buy online because there I find better value for money.

The state sees me doing it which of course affects local businesses. They decide to apply a 7% online tax to force me to buy locally. To force me to pay $4 for a $1 item. They say it is to conserve foreign exchange. Really? When I buy from the local stores do they not use the same foreign exchange you say you want to conserve to bring in those items?

Rather than insist that the Consumer affairs division step in and force the local price gougers to reduce their prices, they try to strong arm me into buying local.

I am forced to pay for every service at the banks. I am charged 12 and 15% on a loan while the banks offer me 1/2% interest on my account which is eaten up by the services charges I pay to maintain said account. Yet their is no legislation to protect me from those criminals.

I sacrifice to save, to purchase a piece of land upon which I build a house. Paying tax on every piece of material I use. I pay bridging finance to the bank before getting my completion certificate. I then have to pay a mortgage which adds up to twice the value of the money borrowed to build.

Then on top of that, I am now asked to pay a property tax based upon a rental value. Rental Value? Therein lies my problem. My tax dollars do absolutely nothing for me. I don't access any grants from the state. I don't access public health care. I don't drive on good roads. I don't feel secure to travel around the country or sleep in my bed. If I call for an ambulance, more than likely I will be dead by the time they arrive. If I my wife calls for the police, they will arrive just in time to draw a line around my body, if they get a vehicle that is.

This is just the tip of the iceberg. So go ahead. Bring on more taxation." - Tony Bedassie

This author is stupid ... Everything that he "mentions" he pays for is heavily subsidized by the state. The state actually subsidizes and cushions the people of Trinidad and Tobago but quite a large margin. Also why is he paying for his land twice over with his mortgage??? This guy needs to shop around for better mortgage rates.

It makes me cringe when people complain about the cost of living here in T&T.

Drchaos R U A SANE PERSON NOTHING IN TRINIDAD IS SUBSIDIZE WHY DO WE HAVE TO PAY MORE TAX AND GET NOTHING IN RETURN?? ALL THESE GOVERNMENT JUST FATTEN THEIR POCKETS....THEY ARE THE REASON WHY THE COUNTRY IS IN A MESS LET THEM TAX THEIR SELVES NOT THE PPL WE DIDNT MISMANAGED THE ECONOMY THEY DID WITH ALL THEM WASTE OF TIME PROJECTS....AND THEY EVEN STEAL FOR THE TREASURY THESE MINISTERS SHOULD BE IN JAIL AND ALL ASSETS SEIZED....ITS WRONG FOR THE PPL TO PAY THE PRICE FOR THEIR STUPIDITY...

Nothing is Trinidad is subsidized??? Please do tell what is current and past 15 years market price of water, electricity and fuel?

[Redman]

people really good yes.

With the ability to fake badges, what stopping bandits from posing as valuators and robbing you?

This is the baxide level ignorant mis information that causes problems.

the LAW as it exists-an owner has to be served and notified as to the GORTT reps coming to evaluate your property..
The websites and info in the press is clear.

[car]

Also why is he paying for his land twice over with his mortgage??? This guy needs to shop around for better mortgage rates.

It makes me cringe when people complain about the cost of living here in T&T.

$4803 per month over 30 years is almost $1.8m for a borrowed amount of 900,000

Many won't get lower than 4.5% interest rate.

borrowed 420k at 8% and total payment after 25 years is 948k. And you still have to add in the fees to get the mortgage. Easily hit close to 1M.

Small money loans you wouldn't pay double the amount. Like around 200k and less.

Das rough boy ... why you taking a mortgage for 25 to 30 years??? Move smart and sacrifice and do ah 10 years so your interest is uber low!

It is rough but the company that I work for pays the interest through a housing subsidy. I only pay the principal otherwise I would have taken it for less years.
Any loan 1/2 million and more you going to pay 2x the amount or more. Unless you take it for a short period of time but then you will have to prove to the bank that you are financially stable to pay it off in that short period of time.

[matr1x]

people really good yes.

With the ability to fake badges, what stopping bandits from posing as valuators and robbing you?

This is the baxide level ignorant mis information that causes problems.

the LAW as it exists-an owner has to be served and notified as to the GORTT reps coming to evaluate your property..
The websites and info in the press is clear.

Numbnuts, unless there is a warrant you are not obliged to let them in. There is a process that must take place for them to enter your premises.

There is a lot of lies that are going around about them naturally being able to enter once they notify you before hand. They can broadcast from space, but unless there is warrant or the head of valuation, they can relax outside.

As for drchaos, he must lime outside urp waiting for money for he chirren. That's as much as he knows

[adnj]

You will pay exactly twice what you borrow if the interest rate is 5.3%. On a 30 year mortgage, your $900,000 loan will cost you $1.8 million.

But if the $900,000 home appreciates at the same 5.3%, at the end of thirty years it will be worth $4.23 million.

You would then have a home worth $2.4 million more than you paid and you were also able to live in it for thirty years.

Not all homes appreciate in value but the biggest financial mistake that most people will ever make is to not buy a home.

Also why is he paying for his land twice over with his mortgage??? This guy needs to shop around for better mortgage rates.

It makes me cringe when people complain about the cost of living here in T&T.

$4803 per month over 30 years is almost $1.8m for a borrowed amount of 900,000

Many won't get lower than 4.5% interest rate.

[Redman]

so you saying that they could show up with a warrant just so?

Or there is a process...that will allow the owner to be fore warned and notified when to expect the evaluators arrival?


Any one dumb enough to fall for a fake badge showing up just so, probably dumb enough to treat your comment as anything other than crap.

There is a process in place for objections and their resolution.

[drchaos]

people really good yes.

With the ability to fake badges, what stopping bandits from posing as valuators and robbing you?

This is the baxide level ignorant mis information that causes problems.

the LAW as it exists-an owner has to be served and notified as to the GORTT reps coming to evaluate your property..
The websites and info in the press is clear.

Numbnuts, unless there is a warrant you are not obliged to let them in. There is a process that must take place for them to enter your premises.

There is a lot of lies that are going around about them naturally being able to enter once they notify you before hand. They can broadcast from space, but unless there is warrant or the head of valuation, they can relax outside.

As for drchaos, he must lime outside urp waiting for money for he chirren. That's as much as he knows

Doh let them in ... when the poor valuations professionals have to guess what you have in your property and they add on swimming pool to your galvanize shack on your evaluation is your tail to ketch to contest that and fight that down.


Line up??? nah when i wah me little CPEP contract to build ah lil box drain I just hadda make ah call and money flowing like dat! An is child ... not chirren. Just goes to show how much you know, sad really.

[sMASH]

Supposed to be notified 48 Hrs in advanced to make urself available to them....

[drchaos]

so you saying that they could show up with a warrant just so?

Or there is a process...that will allow the owner to be fore warned and notified when to expect the evaluators arrival?


Any one dumb enough to fall for a fake badge showing up just so, probably dumb enough to treat your comment as anything other than crap.

There is a process in place for objections and their resolution.

The real issue lies in the fact that you have people in your property checking out every aspect it including security flaws. That information is what is at stake.

[car]

Supposed to be notified 48 Hrs in advanced to make urself available to them....

They need to give me 2 hours off paid just like election day.

[EFFECTIC DESIGNS]

So wait ah minute if you have a sign infront your house saying you does fix lawnmore, small engines or sell avon or those organo stuff or you does fix computers or fix TV etc or something like that.

What exactly will they do when they come and see that sign? could they charge you more on taxes? or even place you as 5% commercial?

[sinister_14]

Some people in this chat born and grow up in a bucket.....why people keep saying the government give we this and d government give we that....Is not the fackin government giving we nothing is the people who pay PAYE TAXS RUNNING THIS COUNTRY NOT FACKIN ROWLEE....THAT JACKASS...AND I DONT SUPPORT NO PARTY CAUSE DEY TOO FACKIN NASTY ONLY THEIFING FROM ALL OF US BUT EVERYONE ONLY STUDING TO FIGHT DOWN ONE ANOTHER....WE SUPPOSE TO BE FIGHTING THE GOVERNMENT TO GIVE WE BACK WE MONIES AND THEN DEY DROP THIS sheit ON WE PROPERTY TAX WTF....WE SHOULD RIOT AND PROTEST INSTEAD...

[GixxerMan]

So wait ah minute if you have a sign infront your house saying you does fix lawnmore, small engines or sell avon or those organo stuff or you does fix computers or fix TV etc or something like that.

What exactly will they do when they come and see that sign? could they charge you more on taxes? or even place you as 5% commercial?

They can only class you nocommercial if you pay commercial water & electricity rates

[EFFECTIC DESIGNS]

^ ooh so the evaluator can't do sheit if you have a sign infront your house advertising some kinda service for a small part time business? cause lots of people are saying they gonna remove their signs and close down their business until the evaluators come and do what they have to do because they are afraid of higher taxes.

This is a lot of fear from the public and the government isn't doing sheit about making this easy for anyone. Information is also hard to get

[matr1x]

people really good yes.

With the ability to fake badges, what stopping bandits from posing as valuators and robbing you?

This is the baxide level ignorant mis information that causes problems.

the LAW as it exists-an owner has to be served and notified as to the GORTT reps coming to evaluate your property..
The websites and info in the press is clear.

Numbnuts, unless there is a warrant you are not obliged to let them in. There is a process that must take place for them to enter your premises.

There is a lot of lies that are going around about them naturally being able to enter once they notify you before hand. They can broadcast from space, but unless there is warrant or the head of valuation, they can relax outside.

As for drchaos, he must lime outside urp waiting for money for he chirren. That's as much as he knows

Doh let them in ... when the poor valuations professionals have to guess what you have in your property and they add on swimming pool to your galvanize shack on your evaluation is your tail to ketch to contest that and fight that down.


Line up??? nah when i wah me little CPEP contract to build ah lil box drain I just hadda make ah call and money flowing like dat! An is child ... not chirren. Just goes to show how much you know, sad really.

I said chirren to put in a way you would understand.

If the valuators adds a swimming pool, that would fall under false declaration and the penalties which would be incurred to an owner doing a false declaration would fall upon the valuator.

[car]

^ ooh so the evaluator can't do sheit if you have a sign infront your house advertising some kinda service for a small part time business? cause lots of people are saying they gonna remove their signs and close down their business until the evaluators come and do what they have to do because they are afraid of higher taxes.

This is a lot of fear from the public and the government isn't doing sheit about making this easy for anyone. Information is also hard to get

If they have a store front it will be difficult for them to remove that. Might still be cheaper than having to pay commercial rates for water and electricity.

[car]

So hear this 1. Talking to ah fella and he knows this man that owns land and build houses as a family business. He said the last 2 houses he built the new owners will not be paying any property tax forever. He done organise that for the new owners already.

[EFFECTIC DESIGNS]

^ nothing to doubt.

Ah mean check this one you know how long people in this country paying bribe to get WASA connection and they never receive a bill or have to pay a bill for all WASA knows they do not have a connection, that going on forever.

Or how about them Flow internet users who pay the one time fee for lifetime free 100mbps internet. And just imagine Flow is a private company eh.

[drchaos]

people really good yes.

With the ability to fake badges, what stopping bandits from posing as valuators and robbing you?

This is the baxide level ignorant mis information that causes problems.

the LAW as it exists-an owner has to be served and notified as to the GORTT reps coming to evaluate your property..
The websites and info in the press is clear.

Numbnuts, unless there is a warrant you are not obliged to let them in. There is a process that must take place for them to enter your premises.

There is a lot of lies that are going around about them naturally being able to enter once they notify you before hand. They can broadcast from space, but unless there is warrant or the head of valuation, they can relax outside.

As for drchaos, he must lime outside urp waiting for money for he chirren. That's as much as he knows

Doh let them in ... when the poor valuations professionals have to guess what you have in your property and they add on swimming pool to your galvanize shack on your evaluation is your tail to ketch to contest that and fight that down.


Line up??? nah when i wah me little CPEP contract to build ah lil box drain I just hadda make ah call and money flowing like dat! An is child ... not chirren. Just goes to show how much you know, sad really.

I said chirren to put in a way you would understand.

If the valuators adds a swimming pool, that would fall under false declaration and the penalties which would be incurred to an owner doing a false declaration would fall upon the valuator.

Valuator can't be held responsible for a false declaration or a wrong evaluation if you don't allow him to enter your premises so he can do his job.

[drchaos]

So hear this 1. Talking to ah fella and he knows this man that owns land and build houses as a family business. He said the last 2 houses he built the new owners will not be paying any property tax forever. He done organise that for the new owners already.

That is impossible ... He may escape the property tax for a while with a well placed bribe. But what happens when they eventually find out and you have the option of paying a sheiton of interest or them taking your house and land???

[car]

So hear this 1. Talking to ah fella and he knows this man that owns land and build houses as a family business. He said the last 2 houses he built the new owners will not be paying any property tax forever. He done organise that for the new owners already.

That is impossible ... He may escape the property tax for a while with a well placed bribe. But what happens when they eventually find out and you have the option of paying a sheiton of interest or them taking your house and land???

I suppose it's the same way you can get lifetime free internet.
Lifetime free property tax.

[sMASH]

^^ that would be logical, but dat and a green jackass u would never see.
some clerical person might admit it is irregular, but all procedures would go forward as if it is viewed as a typo.

[drchaos]

So hear this 1. Talking to ah fella and he knows this man that owns land and build houses as a family business. He said the last 2 houses he built the new owners will not be paying any property tax forever. He done organise that for the new owners already.

That is impossible ... He may escape the property tax for a while with a well placed bribe. But what happens when they eventually find out and you have the option of paying a sheiton of interest or them taking your house and land???

I suppose it's the same way you can get lifetime free internet.
Lifetime free property tax.

You even know how the IT system at flow works? During audits and system upgrades they bump off alot of those " Lifetime free riders".

[EFFECTIC DESIGNS]

^lifetime free internet from a private company like Flow is well known around this country and it have men going on 8 years now with them lifetime free flow internet and them still eh get bump off and the ones who do are put back on again.

so I see no reason why you can't get the same with property tax. People in this country are very brave with Bribery they dress it up as "eat ah food"

How about paying for a drivers license? how about paying for lifetime free water from WASA from the nearest WASA backhoe man?

Nobody will ever know, allyuh forgetting what country this is or what? and for those who not getting lifetime freedom from property tax them valuators gonna be collecting real free rum, curry duck and cash you watch and see.

Valuators for insurance companies does take bribe and give you a lot more money than your car damages are worth. That is normal thing in this country.

[matix]

Have a few customers that admit to paying a one time fee of $1200 for internet and cable, going on 6 years now, all from the same area. Any issues they have are dealt with swiftly from the technician who supplied the service. Illegal services are common practice.

[car]

Somebody link meh to all this freeness!!!!

[EFFECTIC DESIGNS]

Somebody link meh to all this freeness!!!!

Boy them same fellas when they come to install yuh internet could organize yuh sometimes they does even toss yuh lil hint and thing you need to take the bait and show them you just as corrupt.

As for the free WASA connection well that eh too hard just use yuh imagination on who wukking there and might have the equipment to do it. From what I hear is like $2200 for the WASA connection, free for life. Men in this country does even brag about paying less than that.

And if you want free T&TEC connection just move to the Beetham or Laventille and use jumper cables or heck just apply and doh pay any bill and they go be too afraid to cut you off, T&TEC stop going inside there to cut off people. Them eh wa get shoot off that pole, as a matter of fact if you move to the Beetham yuh won't even have to pay Property tax.

[shake d livin wake d dead]

Lollz in this ched

[Redman]

So based on what is the law, and what is published the UNC and its minions are throwing out so much mis information (as seen above) in the name of cheap politics.

I hope Kamla is willing to pay the fines uncured by those that stupidly follow her advice.

The process thus far is within the law-poorly communicated and rolled out-but within the law.

Of course this process sheds more light on those that have land from illicit means.