Prime Minister Hints At Reductions In Land and House Taxes

Contact: Roger Joseph

Friday, January 26, 2001 – Prime Minister Honourable Dr. Kenny D. Anthony has hinted that government is likely to lower land and house tax rates.  In an interview with the GIS, the Prime Minister said that the current rates have been in existence for decades and are based on legislation passed in 1947 and 1950.

Dr. Anthony says he is concerned that the existing land and house tax rates may be a burden on the commercial sector and may act as a disincentive for property development and enhancement.  He is particularly concerned, he says, about new homeowners upon whom the taxes may be a heavy burden especially in the first few years of mortgage payments, as well as pensioners and persons who live in impoverished communities.  The Prime Minister adds that the reduction, if it were to take effect, would be in keeping with government’s policies on housing for low-income earners, through which generous concessions have been made available for home construction.

Dr. Anthony, who also holds the portfolio of Minister for Finance and Economic Affairs, says no government should sanction any tax system that discourages persons from meeting their obligations.  He believes that every effort should be made to avoid conflict between taxpayers and tax collectors.  It is clear, he said, that the existing regime encourages such conflicts.

The Prime Minister hints that this is one of the matters that will receive his attention during the 2001/2002 Budget.

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