Some Barbadians are due a land tax refund after a glitch overcharged residential owners whose properties are valued at more than $450 000.
“The Ministry of Finance advises that updated land tax bills will be issued for residential properties valued above $450 000 to ensure that tax payable reflects the revised residential tax plans. Following the increase in the residential property tax-free threshold from $300 000 to $400 000, a verification exercise identified that bills for properties valued above $450 000 did not fully reflect the revised tax patterns,” said Minister of Finance Ryan Straughn.
The minister was speaking today during a media conference at the Barbados Revenue Authority, Weymouth Corporate Centre, Roebuck Street, St Michael.
Straughn said those who had already paid their taxes could request a refund or have the amount applied as a credit to their next bill. He said they could go online at bill.bra.gov.bb, send an email to bramail.bra.gov.bb, or call 535-3829.
“We will also be having customer service agents at the physical locations who will receive the information from persons who are impacted, such that the processing of any refunds or the credits to be applied for next year or for any arrears will be in place to assist those who may not be technologically savvy.
“The net result here is that effectively those property owners will be paying less taxes on their properties, and therefore we urge persons to be patient and to ensure that we can move [with haste] to be able to address the error,” he said. (CA)
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