Office Of Tax Commissioner: Land Tax Advisory
The Office of the Tax Commissioner issued an advisory following the decision made on March 21st in the House of Assembly to retroactively apply adjusted land tax rates.
The announcement said, “The Office of the Tax Commissioner would like to advise Residential Property Owners of the following important information regarding Land Tax for the period 1 January – 30 June 2016.
“As a result of the decision made on 21 March 2016 in the House of Assembly to retroactively apply adjusted land tax rates effective 1 January 2016, residential property owners should be aware of the following:
- Existing due dates for this period are no longer valid. The revised due date for all residential properties is 30 June 2016.
- If you have already paid your land tax for the period, a credit adjustment will be reflected on your next demand notice for the period 1 July – 31 December 2016. No refunds for overpayments will be processed.
- If you have not yet paid your land tax bill you can do either of the following:Wait until you receive a revised demand notice in the mail and settle the amount due by 30 June 2016, or; Pay the corrected amount now without waiting for a revised demand notice. To find out the adjusted land tax amount for your ARV either call our office or use the Land Tax Calculator which is on the Government website
“If you are the owner or deemed owner of a property and have not received a demand notice, please contact the Office of the Tax Commissioner promptly so that your contact information can be verified.
“For more information contact us by phone at 298-6351, 297-7743 or 294-5827 or by email at taxenquiry@gov.bm. The Office of the Tax Commissioner thanks you for your cooperation and patience.
This party DOES NOT CARE about your average Bermudian. Never has…. NEVER WILL!!
Money and power is their GAME.
I just went to pay mine today, on my home and my apartment, and both had been reduced, one by 40%, and the other by 10%.
Fuzzy maths.
LMFAO
Here’s an interesting item; Land Tax!
I have been asking people 2 questions over the last three months or so. Why do we need to pay land tax if we own the land? Certainly it increases the rent for tenants. And what do we as land owners get for that tax in return? If one thinks about it, it’s an attempt to get money from the rich, which is the typical way most governments screw everybody…..PLP/BIU or OBA! I should also make the point that there are many who owe big-time land taxes. The penalty is to seize your land to pay those land tax arrears. To date, not one has ever had there land taken away, because neither government wants that on their resume. It’ll never happen.
Next on my list of stupid money grabs by either of our governments is Death Tax! This is truly outrageous and yet again, it’s probably designed to get more money off the wealthy than the poor…..for what value does our society gain with a death tax?
So while you sleep comfortably under the delusion of an “unfeeling” government, I’d say that the hole we’re in is due arguably to incompetence of our previous government who might be described as too feely to recognize ‘economics 101′! However, both party’s have simply enjoyed frightening elderly couples about land tax arrears or possibly death taxes which I believe should be abolished from our tax code!
I suspect a fair number of people will be paying less than before if the calculator is correct.