Cabinet To Debate New Property Tax Regime

Ruel ReidThe government is uncompromising that cabinet will not be reviewing the property tax regime, nor will it be contemplating any roll back.

The new tax measure came into effect at the weekend, amidst howls of protest.

Concerns have been raised in several quarters over the effects of the property tax regime, with some commentators  saying this will result in increased rental rates for commercial and residential properties, and hardships on some property owners, including farmers, and pensioners.

Information Minister, Senator Ruel Reid, says it is this public concern that the cabinet will discuss today (April 3).

Mr. Reid says the cabinet will be looking into what programs need to be put in place, to properly inform the public, about the remedies that exist.

 

He reiterates that thousands of property tax payers will see reductions, while some will see no change, and a small percentage of property tax payers, will experience significant hikes.

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