The implementation of the controversial Property Tax is now underway in Trinidad and Tobago, marked by a series of official announcements and the issuance of revised Notices of Valuation to an estimated 400,000 residential taxpayers. While these revisions are necessary, there is a critical flaw in the system that must be addressed: the restricted access to the Valuation Roll database. This column explores the implications of this restricted access, argues for the necessity of transparency, and identifies who stands to gain from maintaining the status quo.

The new Property Tax system in T&T aims to deliver equitable taxes through a crowd-sourcing approach, which promises transparency and low operational costs. Property owners were asked to submit detailed returns – about 60,000 of which were sent – which were then analyzed by the Valuation Division of the Finance Ministry. Selected properties were inspected and measured, leading to provisional tax assessments. Taxpayers have the right to object to these assessments, which would be refined through this iterative process of public feedback, ensuring fairness and accuracy.

Continue reading “PROPERTY MATTERS – the role of the Valuation Roll” →