A series of videos have been circulating on social media recently quoting property tax rates in excess of TT$24,000. The Ministry of Finance, and specifically the Valuation division, has released some information to clear the air on the matter.
Please see the information below:
Notice of Valuation for Property Tax
The Commissioner of Valuations wishes to advise that Notices of Valuation are currently being dispatched to property owners. The Notice of Valuation provides the Annual Rental Value (ARV) of your property.
The Notices of Valuation and computations of ARV were done in accordance with the Valuation of Land Act Chap 58:03 which governs the valuation of land. This Act has been amended by Act No. 17 of 2009. Act No. 5 of 2018, Act No. 21 of 2022, Legal Notice No. 69 of 2023, Act No. 5 of 2023 and Legal Notice No. 212 of 2023
The ARV is NOT the amount of Property Tax you have to pay. The ARV is the annual rent which a particular land (for example, residential) is likely to attract. You should receive a notice of assessment from the Board of Inland Revere (BIR) which will state the Annual Taxable Value (ATV) of your property. According to Schedule I of the Property Tax Act Chap. 76:04, the property tax payable is a percentage of the ATV and is calculated as follows
Residential: 3% of the annual rental value, after first deducting 10%
(AYV-10%) x 3%
$36,000 – $3,600 = $32,400 x 3% Annual property tax would be $972
- Plant and machinery not housed in a building: 3%.
- Plant and machinery housed in a building: 6%.
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Upon receipt of your Notice of Valuation the property owner may object in accordance with section 19 of the Valuation of Land Act under the following grounds
(a) that the values assessed are too high or too low,
(b) that lands which should be included in one valuation have been valued separately:
(c) that lands which should be valued separately have been included in one valuation,
(d) that the person named in the notice is not the owner of the land,
(e) that the annual rental value of any land appearing in the Valuation Roll is incorrect or unfair having regard to other annual rental values therein
(f) that land should not have been included in the Valuation Roll,
(g) that land omitted from the Valuation Roll should be included therein, Rate of Tax payable (% of ATV)
(h) that land included in a series or complex of land units as a single land on the Valuation Roll should be listed separately on the Valuation Roll or omitted therefrom:
- that land listed separately in, or omitted from the Valuation Roll should be combined with one or more of a series or complex of land units and listed as one single unit of land; and Industrial
- that the Valuation Roll is incorrect in some other material particular
Years available: 1968 – 2022
Below is a list of Frequently Asked Questions (FAQS):
1. If I wish to submit an objection to my Notice of Valuation, where can I do so?
Answer: Objections may be submitted online at email@example.com or at any one of the offices
Valuation Division Regions and Contact Information
|Region||Area||Office Address||Telephone||Fax||Email Address|
|1||Barataria (Head Office)||Churchill Court #19, #29, #29A Estate Trace, Barataria||612-1715, 623- firstname.lastname@example.org|
|2||Tunapuna||25-27 Eastern Main Road, Aroucaemail@example.com|
|3||Arima||25-27 Eastern Main Road, Aroucafirstname.lastname@example.org|
|4||Sangre Grande||25-27 Eastern Main Road, Aroucaemail@example.com|
|5||Chaguanas||206 Caroni Savannah Road, Charlieville, Chaguanasfirstname.lastname@example.org|
|6||Rio Claro||29-31 Point-a-Pierre Road, Palms Club Building, San Fernandoemail@example.com|
|7||San Fernando||29-31 Point-a-Pierre Road, Palms Club Building, San Fernandofirstname.lastname@example.org|
|8||Princess Town||#100 High Street Princess Townemail@example.com|
|9||Point Fortin||Techier Road, Point Fortinfirstname.lastname@example.org|
|10||Siparia||Siparia Administrative Complex, High Street, Sipariaemail@example.com|
|11||Tobago||Ahmad Ghany Building, No.39 Wilson Road, Scarborough, Tobago||612-1715 Exts. – 9100, 9108 or firstname.lastname@example.org|
2. If I receive more than one notice for the same property what do I do?
Answer: If you have received more than one Notice of Valuation please contact your nearest Valuation Division office and be ready to provide your PIN number and relevant information
3. I submitted a return but didn’t receive a Notice of Valuation. What am I to do in this instance?
Answer: You can contact the nearest Valuation Division Office with your PIN number name and address to make an inquiry.
4. What is the timeframe within which I can file an objection?
Answer: According to Section 19 of the Valuation of Land Act, an objection may be filed within thirty (30) days after the Notice of Valuation was served
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5. Can I file an objection after the time limit for doing so has elapsed?
Answer: An objection may not be filed after the time limit of thirty (30) days from the date the Notice of Valuation was served/received
6. Can someone object on my behalf?
Answer: Only the owner of the property as defined in the Act can object. According to the Valuation Act owner includes the owner or occupier of any land, or the receiver, attorney, agent, manager, guardian or committee of any such owner or occupier and any other person in charge or having the control or possession of any land in the right of the owner, or having the possession in his or her own night or as guardian of any person of any such land.
7. Does objecting to a Valuation Notice exclude me from paying Property Tax?
Answer: No. According to Section 23 of the Valuation of Land Act as amended, the fact that an objection has been made or an appeal is pending does not interfere with or affect the recovery of tax under any written law. You are therefore still required to follow the instructions in the notice of assessment that you should receive from the Board of Inland Revenue
8. How long does the objection process take?
Answer: According to the Valuation of Land Act, you are required to submit your objection to the Commissioner of Valuations (COV) within 30 days of having received the Notice of Valuation. The office of COV is to respond to the notice of objection within 12 months. Should there be a disagreement with the response there is recourse through the Appeal Tribunal and then to the High Court, but the latter only on points of law.
9. My house and my relative’s house are almost the same size, but the annual rental values are very different, how can this be?
Answer: There are a number of factors that would contribute to the difference in the annual rental values of similarly sized properties, which include location and physical condition
10. I have a certificate of comfort; would I be considered the owner of the property?
Answer: The Valuation of Land Act defines “owner” as including the owner or occupier of any land, and the receiver, attorney, agent, manager, guardian or committee of any such owner or occupier and any other person in charge or having the control or possession of any land in the right of the owner, or having the possession in his or her own right or as guardian of any person of any such land; Therefore, for the purposes of the Valuation of Land Act, you will be considered an owner of the property.
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