NOTICE – To All Banks, Financial Institutions, Mortgage Holders

Posted on 21-Mar-2016 01:14:32

NOTICE

To All Banks, Financial Institutions, Mortgage Holders

YOU ARE HEREBY REMINDED that Section 19 of the Real Property Tax Act, Chapter 375, Statute Laws of The Bahamas, imposes on all Mortgagees the liability to pay or cause to be paid all outstanding real property taxes on property over which they hold mortgages under a deed of mortgage.

Further, mortgage holders are reminded of the July 2015 amendment to the Real Property Tax Act which allows for a 10 per cent discount on the 2016 tax liability for accounts settled on or before March 31st, 2016.

For further information, please contact the Client Services Section at the Department of Inland Revenue at 461-8050 or 225-7280 or you can email taxinquiries@bahamas.gov.bs

Roger Forbes
Chief Valuation Officer & Controller of Inland Revenue
Department of Inland Revenue