About POS

  • The amount of any tax due in respect of property covered under the Real Property Tax Act shall be and remains a first charge upon such property for as long as any Real Property Tax remains unpaid.
  • The Power of Sale provisions in Section 25 of the Real Property Tax Act provide for the sale of “any property other than owner-occupied property, beneficially owned by a Bahamian”.

  • The provision allows for the recovery of Real Property Tax

  • Power of Sale can be initiated on tax that is unpaid for seven months or more after the payment due date of 31st March of the tax year, “where the tax has been in arrears and are unpaid for more than six months after the expiration of thirty days from becoming so due” {Section 25A (2)}.

  • Where the Power of Sale is exercisable on a property in accordance with sub section 1, the Chief Valuation Officer will issue a warrant of sale in the daily news papers.  A notification may also be sent to the owner as registered with the Chief Valuation Officer at least thirty days before the day appointed for the sale.

  • The property owner or mortgagee of any property advertised for power of sale may pay the total tax due (which includes interest, surcharges and collection fees) in full before Tuesday 2nd April, 2024, the day appointed for the sale.

  • Any property sold under section 25A of the Real Property Tax Act shall be sold free from any Mortgage or other encumbrance.  The property will not be sold for less than the amount of tax due plus penalties, interest and cost for conducting the auction.

  • Where a property which was advertised for Power of Sale is not sold on the day of the auction because of the postponement of the sale, the absence of bids, or any other cause, the property may again be put up for sale and notice of the sale shall be given.