Legal Document

Title: The Property Tax Amendment Act
Type: Act
Issuing Agency: Ministry of Justice
Responsible Agency: The Trade Board Ltd.
Issuing Date: 01-04-2017

The Property Tax (Amendment) Act, 2017

[April 1, 2017]

 

BE IT ENACTED by The Queen's Most Excellent Majesty, by and with the advice and consent of the Senate and House of Representatives of Jamaica, and by the authority of the same, as follows: -

1. This Act may be cited as the Property Tax (Amendment) Act, 2017, and shall be read and construed as one with the Property Tax Act, hereinafter referred to as the "principal Act" and all amendments thereto and shall be deemed to have come into operation on the 1st
day of April, 2017.

2. The First Schedule to the principal Act is repealed and replaced as follows-

First Schedule

Property Tax

Column 1                                                                  Column 2

 

Parish                                                           Rate of Property Tax

 

All parishes

1. On property the unimproved value

     of which is $400,000.00 or less                                                  $1,000.00

2.  On property the unimproved value

of which exceeds $400,000.00 but does not exceed $800,000.00—

(a)  for the first $400,000.00                                         $1,000.00

(b)  for every dollar thereafter                                       0.50%

3. On property the unimproved value of

which exceeds $800,000.00 but does not exceed $1,500,000.00—

(a)       for the first $400,000.00                                    $1,000.00

(b)      for the next $400,000.00                                    0.50%

         (c)      for every dollar thereafter  ...                              0.55%

4.  On property the unimproved value of which exceeds $1,500,000.00 but does not exceed $3,000,000.00—

(a)      for the first $400,000.00                                   $1,000.00

(b)      for the next $400,000.00                                  0.50%

(c)      for the next $700,000.00                                  0.55%

(d)      for every dollar thereafter  ...                            0.60%

5. On property the unimproved value of

which exceeds $3,000,000.00 but does not exceed $4,500,000.00—

(a)      for the first $400,000.00                                   $1,000.00

(b)      for the next $400,000.00                                  0.50%

 

(c)      for the next $700,000.00                                  0.55%

(d)      for the next $1,500,000.00                               0.60%

(e)      for every dollar thereafter  ...                            0.65%

6.  On property the unimproved value of

which exceeds $4,500,000.00 but does

not exceed $7,000,000.00—

(a)       for the first $400,000.00                                  $1,000.00

(b)      for the next $400,000.00                                  0.50%

(c)       for the next $700,000.00                                 0.55%

(d)      for the next $1,500,000.00                               0.60%

(e)      for the next $1,500,000.00                               0.65%

(f)       for every dollar thereafter  ...                            0.70%

7.  On property the unimproved value of

which exceeds $7,000,000.00 but does

not exceed $12,000,000.00—

(a)      for the first $400,000.00                                   $1,000.00

(b)      for the next $400,000.00                                  0.50%

(c)      for the next $700,000.00                                  0.55%

(d)      for the next $1,500,000.00                               0.60%

(e)      for the next $1,500,000.00                               0.65%

(f)       for the next $2,500,000.00                               0.70%

(g)      for every dollar thereafter  ...                            0.75%

8. On property the unimproved value of

which exceeds $12,000,000.00 but

does not exceed $30,000,000.00—

(a)      for the first $400,000.00                                   $1,000.00

(b)      for the next $400,000.00                                  0.50%

(c)      for the next $700,000.00                                  0.55%

(d)      for the next $1,500,000.00                               0.60%

(e)       for the next $1,500,000.00                              0.65%

(f)        for the next $2,500,000.00                              0.70%

(g)      for the next $5,000,000.00                               0.75%

(h)      for every dollar thereafter  ...                           0.80%

9.  On property the unimproved value of

which exceeds $30,000,000.00—

  (a)       for the first $400,000.00                                  $1,000.00

  (b)      for the next $400,000.00                                  0.50%

  (c)       for the next $700,000.00                                 0.55%

  (d)      for the next $1,500,000.00                               0.60%

  (e)       for the next $1,500,000.00                              0.65%

  (f)        for the next $2,500,000.00                              0.70%

  (g)       for the next $5,000,000.00                              0.75%

  (h)      for the next $18,000,000.00 ...                         0.80%

  (i)        for every dollar thereafter  ...                           0.90%

3. Section 19(2) of the Registration (Strata Titles) Act is amended by deleting paragraph (c) and substituting therefor the following—

  "  (c) the relevant rate were applied to the total unimproved value of the parcel as apportioned by the unit entitlement of the strata lot.".

Passed in the House of Representatives this 11th day of April, 2017 with one (1) amendment.

PEARNEL CHARLES, CD, MP, .11,
                                  Speaker

Passed in the Senate this 21st day of April, 2017.

THOMAS TAVARES-FINSON, CD, QC, JP

President

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