Bahamas Information Services Updates
Real Property Tax Surcharge Waiver Extended‏
By BIS
Mar 15, 2010 - 9:58:37 AM

Government Notice

Ministry Of Finance

Public Notice

Real Property Tax - Surcharge Waiver Extended

The Ministry of Finance advises the general public that effective immediately, the Waiver of Surcharge against ail properties is extended to 30* June, 2010 as provided herein:

• 100 per cent waiver for owner occupied properties with a market value of up to Two hundred and Fifty Thousand dollars ($250,000.00).

• 100 per cent waiver for owner occupied properties that exceed Two Hundred and Fifty Thousand dollars ($250,000.00).

• 50 percent waiver for other properties.

Section 21B Revival of Surcharge

If after December 31,2009 any property tax remains outstanding in respect of:

• (a) Owner-Occupied Property with a market value of up to two hundred and

fifty thousand dollars ($250,000.00)

• (b) Owner- Occupied property which exceeds two hundred and fifty thousand

dollars (250,000.00)

• (c) Other Property

The owner of such property shall be liable to pay a new surcharge of five percent (5%) of such tax per annum, reduced from TEN PERCENT of such tax per annum.

• For additional information regarding this matter, kindly contact the Real
Property Tax Office, Frederick House, Frederick Street, at telephone
(242)325-1171 or the Administrator's office in any Family Island.