Bahamian Property Tax Amendments To Increase Revenue
Acting on a pre-election promise to effect certain concessions for homeowners,
Bahamian Prime Minister, Perry Christie this week introduced several proposed
amendments to the Real Property Tax Act. Speaking to the House of Assembly, the Prime Minister announced that under
the terms of the PLP plans, tax rates would be reduced across the board, and
the exemption on real property would be increased from $100,000 to $250,000. Mr Christie suggested to Parliament that the introduction of such changes will
actually boost the amount of revenue collected, and may encourage those property
owners who have arrears to come forward and clear them in order to take advantage
of the higher exemption level. 'I do hope that Members will find it convenient to support this bill, and to
see that in fact it is a revenue enhancing bill, as opposed to one in which
we will lose revenue,' he concluded. .
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