New Real Property Tax Incentives
March 2013

In an effort to provide tax relief and to update the real property tax register, the Bahamian Government implemented real property tax incentives to take effect on March 1, 2013 as follows:

1. All back taxes (if any) will be waived for owners of residential properties valued above the $250,000 exemption threshold and owners of commercial properties, who have never received a tax bill, if they register their properties with the Chief Valuation Office by June 30, 2013.

2. Owners of residential properties who remain current with their payments over the next three years will receive a 5% rebate of their annual real property tax assessment.

3. If you are no more than 3 years in arrears, 50% of the arrears and surcharges owing will be waived provided payment is made by June 30, 2013.

4. If you are more than 3 years in arrears, 100% of the surcharges only will be waived provided payment is made by December 31, 2013.

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