Minister maintains “everyday, working-class Bahamian” not being targeted
NASSAU, BAHAMAS — Economic Affairs Minister Michael Halkitis said yesterday that while real property tax rates across the country have not increased, a complete reassessment of the property tax register has led to some properties being revaluated.
In an interview with Eyewitness News yesterday, Halkitis explained: “The rates haven’t jumped; they remained the same. What has happened is that we have completed a total reassessment of the property tax register.”
Halkitis noted that while hundreds of millions of dollars are owed to the government in real property tax, the problem has been exacerbated by two issues.
“It’s been a twin issue. Part of it was that many properties were not on the register. This reassessment exercise was part of a mission to ensure all properties are on the register,” Halkitis explained.
“Another issue was significant undervaluation of properties. Someone might have had a property valuated in 2000 and never been revaluated.
“Any increase in the property tax would have been because of valuation being brought up to a realistic level.”
He said anyone who may not agree with their property’s valuation can contact the Department of Inland Revenue.
The objective is not about increasing taxes or being overly aggressive but ensuring that those who owe and have [the] capability to pay do so.
– Economic Affairs Minister Michael Halkitis
According to Halkitis, the government is merely seeking to ensure that people who have the ability to pay their property taxes do so.
“The objective is not about increasing taxes or being overly aggressive but ensuring that those who owe and have [the] capability to pay do so,” he said.
“It’s not a matter of simply going after your everyday, working-class Bahamian.”
Halkitis noted that over the year, the real property tax issue has not been given sufficient attention, with regular assessments not having been carried out and insufficient efforts made to follow up with taxpayers.
He noted that as a part of the government’s real property tax collection efforts, the government is offering discounts as an incentive for early payers.
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