The Governmet of Jamaica has given the clearest signal yet that property tax is to be increased.
The tax is the biggest source of revenue for local authorities, but compliance from property owners has traditionally been low.
Local Government Minister Noel Arscott, yesterday indicated that the cost of providing services such as garbage collection and street lighting has increased, so the Government needs to collect more.
Making his contribution to the Sectoral Debate, Mr. Arscott announced that the property revaluation exercise will be completed this fiscal year
He says the new rates will be applied during 2013/2014.
This will coincide with plans to increase the level of tax compliance by property owners from 51 to 65 percent.
RJR
