Property Tax in Trinidad & Tobago

[Les Bain]

Ah boy, Jwala musbe have an extra smugness in his smile now. They fire him for speaking the truth, cacklers join in to laugh at him, now is tax in we FMC cause the PNM has no plan how to generate revenue when the wheels fall of the gravy train.

[src1983]

I does tell all the young people now to migrate yes.

Government going and tax us more, but cool with overpaying paying JS, Coosal etc for roads that last 2-5 years.

Plus the citizen doesn't have a say in projects that government find fit, so if the PM get a vaps and decide to build a pyramid we can't do crap besides vote him out. Then the UNC will win on promising

1. Changed party
2. No corruption
3. Party of the people

Then come to give all their friends contracts to build more poor quality stuff

Endless cycle of raping

[car]

Now read that there will be a $500 penalty for not submitting the forms

[Average]

So we're being forced to do this and there are people defending it...guess they living by mammy and daddy and have not one MC to cater for.

[src1983]

Just called the hotline (wait time 2 mins *surprising*)

Any way for those living in a townhouse compound like me, it was confirmed that the property company will be liable for the tax at the residential rate as this is purpose of the property.

Also the Valuator will place a total value by looking at the town houses/apartments.

[shake d livin wake d dead]

also spoke to the people...according to them, all the documents in the checklist MUST be provided at some point in time...so my question still stands: what is the deal with those who don't have approval, completion certificates etc etc...real lolzzz...what about them squatters

[car]

also spoke to the people...according to them, all the documents in the checklist MUST be provided at some point in time...so my question still stands: what is the deal with those who don't have approval, completion certificates etc etc...real lolzzz...what about them squatters

In time you will have to get your documents in order. In the coming years.
Right now government just looking for you to start paying the tax. They want no delays in collect the tax $.

[urbandilema]

[urbandilema]

But I have a silly question here would this affect the price of buying or even real estate for the future

[GeneralHonda]

How long was this info. up/made available to the public?

[src1983]

But I have a silly question here would this affect the price of buying or even real estate for the future

Nah for the person buying the property $4M for the person paying tax on the property $2M

That's how stuff works in Trinidad

[hydroep]

Now read that there will be a $500 penalty for not submitting the forms

Heard this on the radio as well.

[Monkey Man]

Now read that there will be a $500 penalty for not submitting the forms

Heard this on the radio as well.

hope it wasnt from those 'educated' urban announcers. most of them shouldnt be within miles of a microphone

[hydroep]

^Dale and Tony's i95.5 FM Morning Show, words spoken by Mr. Enoch himself.

They also had Prakash Ramadhar on the phone, who alleged that the PP's version of the property tax was resisted by certain elements intent on keeping the system we are witnessing now. He may elaborate when he's back in the country.

[16 cycles]

http://www.finance.gov.tt/propertytax/

^property tax and forms that can be printed for submission...not sure if it was posted already...

[Chimera]

i would assume there must be some valuation dispute procedure as well
Also who are the govt valuators ?
To my knowledge govt doesn't have any or at least in capacity to do nationwide property valuations
A monumental task.

If they gonna subcontract certified valuators.......$$$$$ to be made
Plus folks gonna want to do their own private valuations

There are Valuation Officers attached to the District Revenue Offices.
They do site visits when you transfer land, property etc.

Those valuation.officers take up to two years to come do a valuation

[meccalli]

So we have to guess what our houses' rental values are?
(c) If occupied by owner or relatives – rental value thereof –

State the rental value that the property can attract, if it were to be placed in the market for rent

[drchaos]

Called the hotline ... As I have a empty lot of residential land. So I asked how the rental value of a piece of land with bush on itwould be calculated and he said it would be calculated from value of the land itself.

My land is worth the same as the guy next to me with a house on the land ... So I paying tax on land and grass while the guy next to me paying the same amount of tax on his house and land?

They have reduced rate for industrial without a building ... why not residential without a building as well?

[sMASH]

See why a rental value is asinine concept?!

[car]

i would assume there must be some valuation dispute procedure as well
Also who are the govt valuators ?
To my knowledge govt doesn't have any or at least in capacity to do nationwide property valuations
A monumental task.

If they gonna subcontract certified valuators.......$$$$$ to be made
Plus folks gonna want to do their own private valuations

There are Valuation Officers attached to the District Revenue Offices.
They do site visits when you transfer land, property etc.

Those valuation.officers take up to two years to come do a valuation

Nar boy. The PNM ready for we.
Is millions spent on the property tax system and they already have teams ready to go out for evaluation. They moving like road block and speed guns.

[car]

Called the hotline ... As I have a empty lot of residential land. So I asked how the rental value of a piece of land with bush on itwould be calculated and he said it would be calculated from value of the land itself.

My land is worth the same as the guy next to me with a house on the land ... So I paying tax on land and grass while the guy next to me paying the same amount of tax on his house and land?

They have reduced rate for industrial without a building ... why not residential without a building as well?

The guy with the house suppose to be paying more. Something aint right there. That is good grounds to refuse to pay.

[src1983]

Yup, tax the middle class to death

[Chimera]

Red and readyyyy

[src1983]

They way how government moving I running out of red dollars too :/

[buckredan]

[attachment=0]IMG-20170419-WA0001.jpg[/attachment]

[Slartibartfast]

So what about my gram grams who own her house outright but scraping by on pension?

Personally, I understand the need for a property tax. We live on a small island and land is therefore a limited resource. You don't want people buying up acres of land for their great grand kids in 100 years time just because they have money while you have young hardworking citizens that can't find a good place of their own that they need right now. The best thing would be a tiered model where no tax is paid if you own below a certain square footage. Similar concept to income tax where no tax is paid on first $72k annual income.

[zoom rader]

Don't know why tuners complaining . I warned you all about PNM, so take the BBC

[sMASH]

So what about my gram grams who own her house outright but scraping by on pension?

Personally, I understand the need for a property tax. We live on a small island and land is therefore a limited resource. You don't want people buying up acres of land for their great grand kids in 100 years time just because they have money while you have young hardworking citizens that can't find a good place of their own that they need right now. The best thing would be a tiered model where no tax is paid if you own below a certain square footage. Similar concept to income tax where no tax is paid on first $72k annual income.

That is what I have been preaching since 2009 or when the first iteration of this injustice was proposed.

They not asking if ur means of income can accommodate the new taxes... all they are concerned with is the the perceived value is high therefore are entitled to take monies from u.


They assumed every body have big wuk and bought their properties via mortgages therefore can pay anything g they decree.


Check out this. one set of my family they have two persons eemployed as a seamstress and a grounds keeper.
The other two is on disability leave and and retrenchment.

They saved up all their lives to build the house.... the land was inherited when it was dog cheap.
They had lived simply wit belts tightened since good times,
Now u just want to tell them its curepe and the house nice so pay up.

Next family
Father is a handyman, mother laid off from royal bank.
One child is on ojt which will end soon with a degree, the second is still in Uwi, the third got sent home in a retrenchment rounds as he was a trainee.

They took a mortgage to build a house as it was easy because of the bank status. They are looking for things, but they are not about hustling, they are the middle class type.
They barely get along since the bank lay off a few years ago. And because they have a bigish house they have to find money for that.

Third.
Friend from school, working in a bank, rather got laid off from hdc, took a mortgage for the house, now they sell doubles on the week ends to make the mortgage payments, and bank salary can't pay that and support the household.
Now they have to scrape up money.




The the little resources guy had at the time, they elevated their living conditions, and will now be penalized for having ambition.

Government didn't help none of them to get what they have.
And are now being taxed for it.




Any body supporting the rental value and a valid means to calculate a tax, allyuh ain't know how the back stories of how Indian achieve what they acacheic u all just assume it's because they are rich. Things change,





This PNM is the second worst blight this nation have seen. the first was Eric Williams, forcing monkeys to run this country

[De Dragon]

Red and readyyyy

And facking stupid, dotish and clueless should be added to the slogan.

[dude2014]

Called the hotline ... As I have a empty lot of residential land. So I asked how the rental value of a piece of land with bush on itwould be calculated and he said it would be calculated from value of the land itself.

My land is worth the same as the guy next to me with a house on the land ... So I paying tax on land and grass while the guy next to me paying the same amount of tax on his house and land?

They have reduced rate for industrial without a building ... why not residential without a building as well?

The guy with the house suppose to be paying more. Something aint right there. That is good grounds to refuse to pay.

Is it you dont understand your post? Or is FREE FOR ALL SARCASM DAY? Empty land pays less any day. The guy with house and land will pay more ......................

There are tuners who want viable arguments to support or oppose the TAX.

You alone lives on a road and it will take 2m to develop. You are not expected to pay all that in tax so it can be developed. The taxes are primarily for the enjoyment of other benefits such as the main road to your road, schools, hospitals and the like. This may also be taken into account as person living in rural areas will have lower rental values due to the proximity to services and/or unavailability of such services.

A good example is WASA, check the schedule behind your WASA Bill. You may have to pay up even if you do not have a connection on DE EMPTY LAND .......

Property Tax is not only about house, out house or toilet, land and who getting/not getting old age pension as an excuse to not pay taxes. It is about maintaining records, provision of necessities and yes the old age pension, according to Aristotle who lived many years ago. We respect his wisdom, but draw the line when it comes to property taxes? Some of this tax will be pooled to pay old age pension. Do not contribute, live for free and let somebody else pay for it. Best of Luck with that one ....

THERE IS TALK ELSEWHERE ABOUT RAISING THE PENSIONABLE AGE FROM 65 YEARS TO 70 YEARS. THINK ABOUT THAT

Google the Philosophy of tax, property tax and other tax. Compare with other systems and then get up and clamour for Equity, Equality and justice ...........