Real Property Tax Exemption for Concessions

All building registered on the National Register of Historical Buildings are eligible for exemption from real property tax. Exemptions are not automatic and must be applied for even when your property is listed on the Historical Buildings List.

Eligibility

An owner of a historical site, land mark of significant to Bahamian History or parcel of land can apply for this exemption from Real Property Tax building. The building must be registered on the National Register of Historical Buildings.

Process

  1. Submit a completed application form along with the originals and copies of supporting documents to the Department of Inland Revenue. Family Island applicants can submit the application to the local administrator and collect approvals/rejection from the local administration office.
  2. A representative from The Department of Inland Revenue will review the application and, if necessary, request additional information and documentation.
  3. The Department will review your application and set up an appointment to conduct a site visit.
  4. The applicant must accompany the inspector for the site visit
  5. The Special Project Coordinating Committee for the Preservation of Historical Properties will then convene and review the application and the relevant supporting documents.
  6. The Department will contact the applicant to inform them that the document is ready for collection.
  7. The Department will issue an approval/rejection to the applicant.
  8. Once approved the owner receives a certificate that states that they are exempted from real property tax
  9. Note: Entities not eligible to receive an exemption from real property tax will be notified when they collect their documents. Applicants can contact the Department of Inland Revenue to inquire as to the reason for their ineligibility.
  10. If rejected the owner is required to pay the normal duties as prescribed in the Real Property Tax Act.

Application for Tax Concession – Applicant

 
Application for Tax Concession – Applicant must check the Real Property Tax Exemption box of the form.

 
Supporting Documents

  • Historical Building Certificate

Within two weeks from the date of submission of a completed application for exemption from real property tax, including all required supporting documentation, a representative from the The Department of Inland Revenue will contact the applicant.