Property Tax in Trinidad & Tobago

[pete]

Vacant residential you get the Annual rental by multiplying the current market value by 3.5%.

450k lot of land would have ARV of $15,750
Property tax would therefore be 3% of 90% of that value so $425/year

While growing produce on the land would be a good idea and if more people are doing that may reduce our food prices, is it really worth it to avoid $36/month?

[EFFECTIC DESIGNS]

^ well if he only paying $475 a year then he might aswell not bother with planting it.

[VexXx Dogg]

Vacant residential you get the Annual rental by multiplying the current market value by 3.5%.

450k lot of land would have ARV of $15,750
Property tax would therefore be 3% of 90% of that value so $425/year

While growing produce on the land would be a good idea and if more people are doing that may reduce our food prices, is it really worth it to avoid $36/month?

ok, I have a vacant lot and this helps me greatly prepare.
It's not that bad for me. Yet.

[aaron17]

Thread turn to farmer's thread now...

[sinister_14]

So anyone have land for sale in claxton bay,st. Margaret's or marabella?

[sinister_14]

So anyone have land for sale in claxton bay,st. Margaret's or marabella?

Residential...i looking for ah 1 lot...anyone cud help out ah brother??

[rspann]

2 lots, Prevatt St Marabella. $800k.

[sinister_14]

2 lots, Prevatt St Marabella. $800k.

Contact info plz

[drchaos]

Vacant residential you get the Annual rental by multiplying the current market value by 3.5%.

450k lot of land would have ARV of $15,750
Property tax would therefore be 3% of 90% of that value so $425/year

While growing produce on the land would be a good idea and if more people are doing that may reduce our food prices, is it really worth it to avoid $36/month?

Boy the lot was 3 times that, Lange park ... I biting the bullet and taking a short term mortgage so the interest payments doh kill meh in the long run. But I planting it up in the mean time since it just sitting there and I doh have the capital to do anything else with it. It was either this or a really nice car.

[shake d livin wake d dead]

I actually took the chance to watch piece of PNM broadcast tonight...

IMBALLS actually said : we love the citizens, so we have to tax you....D MC

[drchaos]

Afra getting some big contracts from the gov for valuations? Cause he real on board with the tax.

[screwbash]

ah hope sealots, enterprise, beetam, parts ah morvant, laventille, parts ah arima/grande an all dem pnm who is pnm till ah dead pay they property tax and doh somehow get exempted cause they not working for enof or som sheit. This is a firetruck PNM mc tax an ah hope all dem pnm ppl fix dey mc teeth and smile as they paying this tax, smile as grocery prices gone up and they paying by the cashier, smile when they go to a beach in trinidad and hadda pay mc $20 to pay in filth as up chaguaramas, smile while gas going up again, smile as ah hope impbutt cut allyuh food cards and not the food cards from other citizens who need it. I doh know why impbutt doh give out free condoms so dat it cud have less and less bandits being born in trinidad.

[zoom rader]

I actually took the chance to watch piece of PNM broadcast tonight...

IMBALLS actually said : we love the citizens, so we have to tax you....D MC

You got what you voted for

[hydroep]

Just a reminder, allyuh have to pay for 2016 as well eh...

Property tax in effect from 2016

The Ministry of Finance has signalled to property owners that the Government proposes to collect property tax for the 2016 calendar year as well as for 2017.

The issue of the Government collecting the property tax for 2016 was first made in a newspaper advertisement published on Monday, at the start of the Ministry of Finance’s public education outreach programme this week as promised by Finance Minister Colm Imbert.

The advertisement, repeated in a statement issued by the Ministry of Finance yesterday, stated:

“The Government has waived the payment of the property tax for the period 2010 to 2015, as such the tax is payable with effect from 2016.”

That comment from the Ministry of Finance is supported by the amendment to the Finance Act 2015, which states:

“Notwithstanding any written law to the contrary, the payment of any tax under this act shall be waived for the period January 1, 2010 to December 31, 2015,” suggesting that the property tax is payable with effect from January 1, 2016.

On Monday, the T&T Guardian asked an official at the Ministry of Finance “if the tax is payable with effect from 2016, is it to be understood that the Government proposes to collect property tax for both 2016 and 2017? If the answer is yes, can levying for 2016 be defined as a retroactive tax?”

The Ministry of Finance official did not respond to the question of whether the Government proposed to collect property tax for both 2016 and 2017...

http://www.guardian.co.tt/news/2017-05-02/property-tax-effect-2016

Also, if citizens have until the following year to pay the current year's taxes (e.g. March 31, 2018 for 2017), it means the deadline for 2016 has already passed. Question is: Will additional charges (interest etc.) be applied for missing the cutoff?

[Redman]

Afra getting some big contracts from the gov for valuations? Cause he real on board with the tax.

So if you against the tax...you getting paid from the UNC?

Everyone wants to stop corruption and live in a modern society.

The systems needed to have that made possible need to be put in place

this is part of it.

You need systems in place to capture and correlate information of this nature....so,many people support the concept.

[pugboy]

unlikely Afra is a pnm.

I don't mind paying the tax but it not easy for some who happen to own large properties through inheritance etc and now gonna get stuck with a big bill.

What we really need is more accountability, I don't like the idea that my tax dollars gonna be going straight into contractor 72 pocket or whoever for some ripoff job.

[src1983]

Tax dollars working for you, $10M for walkover cause sea lottites can't use the pedestrian crossing

In Trinidad more tax = more government wastage

[Monkey Man]

people saying the tax is not much but if they start to tax Monkey Womans nanny a little bit every time i use it. does that make it rite??

no mann!

[The_Honourable]

Afra getting some big contracts from the gov for valuations? Cause he real on board with the tax.

Nah he was always advocated for a fair property tax years now. He made a good point that financial institutions can now blank you if you don't pay the property tax but want a mortgage.

[sinister_14]

Afra getting some big contracts from the gov for valuations? Cause he real on board with the tax.

Nah he was always advocated for a fair property tax years now. He made a good point that financial institutions can now blank you if you don't pay the property tax but want a mortgage.

This man clearly talking bull sheit......no bank is gonna blank you a mortgage for you to build a property if you dont pay property tax....banks give u a mortgage base on your income...LET JUST SAY BANKS DO DECIDE TO BLANK PPL BECAUSE DEY PAY NO PROPERTY TAX...OK...on the flip side banks are gonna be loosing plenty profit...banks are no gonna take that chance to blank u...check this a mortgage for 1mil for 30year...u pay back the bank at the ended of that 30 years 2.5mil....you see how much profit they make....banks wont blank you they would lend u the money....this man in the video like he get ah contract with pnm.....waste of time...smh...ppl be wise not stupid like this man....

[88sins]

Even with Mr Raymond's point of financial repercussions for non compliance, why should people want to pay this new format of a tax? It's just another load for the public to tote.
Persons pay VAT on materials to build, VAT on legal fees for your mortgage, VAT on valuation, stamp duty when registering your deed,, etc. Home owners are already taxed up to their eyeballs, & most of that is when you are now getting started.


Whats the sense in working hard & saving all you can, the having to pay upwards of 1 million dollars for a property, then paying another 100-200K in taxes, if you can never outrightly say you own what you paid for?

[sinister_14]

All the government does is firetruck the citizen of trinidad...for dem to get monies to steal ppl in trinidad good stupid inno always fighting pnm this...unc...that...and ya nigha this and ya indian that...and d government who freaking all ah we with no spit laughing at d ending ah d day cause people in this country too stupid....so that why implementing property tax...and it have ppl stupid enough to pay it....but leh meh help all of you stupid ppl ah lil bit..you dont have to pay it...wat dey go do lock up d while country....also if you stupid and you pay it and something happen to your property like flood and etc...You cud now sue the government for your house being flood...but then you will have to wait 20years to get ya money to fix ya house...

[88sins]

Afra getting some big contracts from the gov for valuations? Cause he real on board with the tax.

Nah he was always advocated for a fair property tax years now. He made a good point that financial institutions can now blank you if you don't pay the property tax but want a mortgage.

This man clearly talking bull sheit......no bank is gonna blank you a mortgage for you to build a property if you dont pay property tax....banks give u a mortgage base on your income...LET JUST SAY BANKS DO DECIDE TO BLANK PPL BECAUSE DEY PAY NO PROPERTY TAX...OK...on the flip side banks are gonna be loosing plenty profit...banks are no gonna take that chance to blank u...check this a mortgage for 1mil for 30year...u pay back the bank at the ended of that 30 years 2.5mil....you see how much profit they make....banks wont blank you they would lend u the money....this man in the video like he get ah contract with pnm.....waste of time...smh...ppl be wise not stupid like this man....

He clearly didn't consider that most ppl have no interest in selling their home, that they'd plan to leave it to their children.
He didn't take into account, a mortgage on a house isn't the only way to get finances to fix a house. Small loans from the bank, & saving cash over time to do work on a house work just as well last I checked.
And what gives the gov't of ANY nation, the right to seize a persons property, that they paid for with their own hard earned cash with absolutely zero input from the state? If you paid a million dollars for a property & your mortgage is paid off, & end up losing it for non payment of taxes, the state gonna sell it at market value & collet their tax & return the balance to the previous occupant? I doubt that.


Another parasitic law, created by another parasitic politician, designed with the intent to suck the blood out of a cowardly public.

[The_Honourable]

Full interview by Afra Raymond explaining the property tax. Interview between 0:00 to 36:20.

[sinister_14]

http://www.guardian.co.tt/news/2017-05- ... ffect-2016

[sinister_14]

http://www.guardian.co.tt/news/2017-05-02/property-tax-effect-2016

This is fackery take it...in all yuh MC......To all those who put Pnm in power how all yuh feeling now...all yuh red and ready still...i think all these stupid ppl.who voted these clown in power....should go pay the property tax for the both year all of all yuh to fackin stupid weyyyyy....i sure the set of them who was put out of the HDC HOMES for squatting voted pnm ya see wat all yuh government do for all yuh he put dem out which was the rite thing to do....than workin out a payment plan for u guys....how much of all yuh still have wok...?...how much of all yuh have to sell ya house cause d government all yuh voted for shut down d company you was employed with.....

[sinister_14]

ANYBODY IN HERE EVER WATCHED THE VIDEOS FROM 'wat ya know' facebook page...you ever noticed that trinidadian really facking stupid....like really stupid....im a trini and i shame lawd......these ppl make me feel i cud be the next president or prime minister of trinidad....you all should go watch the vids and tell me wat ya think....god help some of them...plz

[car]

Afra getting some big contracts from the gov for valuations? Cause he real on board with the tax.

Nah he was always advocated for a fair property tax years now. He made a good point that financial institutions can now blank you if you don't pay the property tax but want a mortgage.

This man clearly talking bull sheit......no bank is gonna blank you a mortgage for you to build a property if you dont pay property tax....banks give u a mortgage base on your income...LET JUST SAY BANKS DO DECIDE TO BLANK PPL BECAUSE DEY PAY NO PROPERTY TAX...OK...on the flip side banks are gonna be loosing plenty profit...banks are no gonna take that chance to blank u...check this a mortgage for 1mil for 30year...u pay back the bank at the ended of that 30 years 2.5mil....you see how much profit they make....banks wont blank you they would lend u the money....this man in the video like he get ah contract with pnm.....waste of time...smh...ppl be wise not stupid like this man....

Before you take a mortgage you will have to provide previous receipts of land tax and a wasa clearance certificate.
Every year for the duration of the loan the bank requires the copies of the land tax and wasa receipts for every year.
They may not blank you on the loan but these documents is a requirement of the loan.

[car]

Now read the landlords that collecting rent will have to pay 25% income tax. This might be coming next year.

[car]

Going to be a double blow for renters.