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Property Tax in Trinidad & Tobago

this is how we do it.......

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switchblademaster
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So d new housing tax......

Postby switchblademaster » September 17th, 2009, 7:05 am

So for all who aint get d info yet.......dis is d proposed BULLLSH!!!!T

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Last edited by switchblademaster on September 17th, 2009, 11:15 am, edited 1 time in total.

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Mini
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Postby Mini » September 17th, 2009, 7:39 am

ok... but how is the expected annual rent determined?

what's the criteria?

number of bedrooms
number of baths
land space
tiled
h/c water
floor space
cupboards
furnished or unfurnished

all these things go into determining the rental rates for property now...

can the expected annual rent be disputed? what measures are being placed to prevent property owners passing on the new tax to renters?
Last edited by Mini on September 17th, 2009, 7:43 am, edited 1 time in total.

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ray d saint
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Postby ray d saint » September 17th, 2009, 7:42 am

So my tax will be claculated on the ATV, less 10%.

Now this 10% is deducted as the above says, "for the time when property may not be rented or for when the landlord does not collect rent"

[rant] I fackin livin in de house, it is not being rented, nor do I collect rent!!

STEUPS

[/rant]

:evil:

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Postby aR&D » September 17th, 2009, 7:56 am

Thank you.

Nice glossy poster.... very creative and the public relations creators stuck to the most important parts of poster being located on the “Zâ€

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zoom rader
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Postby zoom rader » September 17th, 2009, 8:17 am

Why complaine about house/land tax? Ent yuh vote PNM !

switchblademaster
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Postby switchblademaster » September 17th, 2009, 8:36 am

aye dis is juss an email i recieve n decide to share..........was hoping to get more info about it

Dis ting is very vague n has many room for curruption.......

evo-STI-k

Postby evo-STI-k » September 17th, 2009, 9:00 am

switchblademaster wrote:aye dis is juss an email i recieve n decide to share..........was hoping to get more info about it

Dis ting is very vague n has many room for curruption.......


yuh expected anything better from them??
STEUPSSSSSSSSSSSSSSSSSS................................

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neoise
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Postby neoise » September 17th, 2009, 9:03 am

Steups x2 ...... mih big toe hurting even more now

switchblademaster
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Postby switchblademaster » September 17th, 2009, 9:06 am

no i expect worse!!!!!!!!!!!!!!!!!
But instead ah sitting dong stupesing I trying to understand ppl should try n understnad d ting so we can try to cover we back a lil bit

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Postby JWT » September 17th, 2009, 10:06 am

waiting for all them poeple who living on houses worth 1.5 million wanna see their value now :lol: :lol:

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Postby Bezman » September 17th, 2009, 10:14 am

JWT wrote:waiting for all them poeple who living on houses worth 1.5 million wanna see their value now :lol: :lol:


most houses in the west are 2.3 million+

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novastar1
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Postby novastar1 » September 17th, 2009, 10:15 am

I dont know why everyone dont realise this means an increase in everything

ie. Grocery , utilities, you name it

You think that businessmen just going to ABSORB the extra tax?
This will be passed on to the consumer

evo-STI-k

Postby evo-STI-k » September 17th, 2009, 10:39 am

novastar1 wrote:I dont know why everyone dont realise this means an increase in everything

ie. Grocery , utilities, you name it

You think that businessmen just going to ABSORB the extra tax?
This will be passed on to the consumer


eXACTLY! YOUR government just raised the price of EVERYTHING by at least 20% or more!

:roll:

as usual they NEVER think anything through! not surprised.
but ALL sectors of society need to stand up and protest against this!

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novastar1
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Postby novastar1 » September 17th, 2009, 10:41 am

Vote pnm :roll:
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Mini
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Postby Mini » September 17th, 2009, 10:41 am

JWT wrote:waiting for all them poeple who living on houses worth 1.5 million wanna see their value now :lol: :lol:


the value has nothing to do with it.... it's the annual expected rent... you could a a 1.5M house... renting for $5000 per month...

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Postby silent_riot » September 17th, 2009, 11:03 am

Mini wrote:
JWT wrote:waiting for all them poeple who living on houses worth 1.5 million wanna see their value now :lol: :lol:


the value has nothing to do with it.... it's the annual expected rent... you could a a 1.5M house... renting for $5000 per month...



^^^x2
Exactly, how to determine the rent value?
They said the expected value of annual rent, yet no method of how to determine that value.

The focus of the article is mainly to market that the rate of tax has dropped from 8-10 percent (of something) to 3 percent (of something else), yet no indication of how to properly calculate the end tax figure was given....only examples of multiplication lol

Also for the agricultural properties, how come they said 1% in the table, but explicitly stated 2% in the Q&A section?

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Postby richardg1976 » September 17th, 2009, 11:15 am

ray786 wrote:So my tax will be claculated on the ATV, less 10%.

Now this 10% is deducted as the above says, "for the time when property may not be rented or for when the landlord does not collect rent"

[rant] I fackin livin in de house, it is not being rented, nor do I collect rent!!

STEUPS

[/rant]

:evil:


LMFAO!!

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Postby aR&D » September 17th, 2009, 12:20 pm

novastar1 wrote:I dont know why everyone dont realise this means an increase in everything

ie. Grocery , utilities, you name it

You think that businessmen just going to ABSORB the extra tax?
This will be passed on to the consumer


i know of three businesses: a grocery, a hardware and a Tyre Service, Distribution and sales - have already done their calculations on how the property taxes will impact;

The grocery: $85K additional per year

The Hardware: $50K per/yr

The Tyre Co.: $25K, $35K and $45K per yr


Great is de pNM ... de money done!

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Postby Greypatch » September 17th, 2009, 12:24 pm

nah man ....
de money does just run low..

ent it have te tax payers to bleed

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Postby nes123 » September 17th, 2009, 12:37 pm

novastar1 wrote:I dont know why everyone dont realise this means an increase in everything

ie. Grocery , utilities, you name it

You think that businessmen just going to ABSORB the extra tax?
This will be passed on to the consumer


Don't you guys think about the flip side to this?The other 50% chances are that houses purportedly value at 1.5mil for a 3bdroom house in let say diamond vale...will drop to the actual value avg 600k-700k which is a more practical price for a house with concrete roof,3 rooms,1 bath on 4900s.f. of land.....lets all look on and see..after all that's all we can do for now

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Postby horsepwrjunki » September 17th, 2009, 12:45 pm

^^ but its assesed at 2009 market value genius.. so diamond vale for example... that house describe rents for what 4-5k?.. think about it...


so if i have agriculutral land but live sea side where my rental inthe area is .. lets say.. 1000k / day...= so royaly screwed.. ( just a thought.. )

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Postby Humes » September 17th, 2009, 1:03 pm

Sorry to rock the boat, but...

Nobody going to point out that the example they give ends up paying $648 in tax?

By that reasoning, the vast, vast majority of homeowners won't have to pay more than $1500 a year. Most people will pay much less.

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Postby horsepwrjunki » September 17th, 2009, 1:07 pm

^^^^okay so why now ceartin ppl could be exempt?... who determines this?

evo-STI-k

Postby evo-STI-k » September 17th, 2009, 1:23 pm

horsepwrjunki wrote:^^^^okay so why now ceartin ppl could be exempt?... who determines this?


:roll: once yuh in a pnm area yuh ent go pay nutthen!

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Postby Strauss » September 17th, 2009, 1:33 pm

zoom rader wrote:Why complaine about house/land tax? Ent yuh vote PNM !


Humans instinct.
I complain about PMS as well.

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Postby aR&D » September 17th, 2009, 1:45 pm

Humes wrote:Sorry to rock the boat, but...

Nobody going to point out that the example they give ends up paying $648 in tax?

By that reasoning, the vast, vast majority of homeowners won't have to pay more than $1500 a year. Most people will pay much less.



Your assumption is wrong.

I had a very good friend who is a qualified quantity surveyor, so she has intimate knowledge of true and real property values and rental values. My tax may now be $4320 per year to add to my monthly mortgage payments because my rental value was assessed to be $12K per month

My parents home, retirees, home paid off already, are now to pay $1800 per year, their rental value assessed to be $5000 per month ...

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Postby Humes » September 17th, 2009, 1:51 pm

Isn't the rental value going to be assessed according to an average in the area, and not on a single building basis?

I sincerely doubt the government assessors are going to be using the ridiculous cutthroat assessment methods that have convinced some people to charge USD$5000 rent for their houses and apartments. I suspect the government assessors are going to be a lot more conservative.

It's going to be interesting to see what happens in a few months. I figure this is all much ado about very little.

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Postby Mini » September 17th, 2009, 1:52 pm

aR&D wrote:My tax may now be $4320 per year to add to my monthly mortgage payments because my rental value was assessed to be $12K per month

My parents home, retirees, home paid off already, are now to pay $1800 per year, their rental value assessed to be $5000 per month ...


ok let's see... how often does the garbage truck collect garbage in front of your house... 3 times a week? .. that's 156 times for the year...

how many street lights are on your street? 10? do they come on every night? who pays the bill?

is your road paved? who pays to maintain it and the drains around it?

my point is... everybody wants better services from the regional corps and government... but somebody has to pay for it...

if there's an improvement in the community based on the increase in taxes... then i'm all for it...

also you may see rental prices going down as a result... which I'm also in favor of...

give it a chance...

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Postby novastar1 » September 17th, 2009, 1:58 pm

Mini wrote:
aR&D wrote:My tax may now be $4320 per year to add to my monthly mortgage payments because my rental value was assessed to be $12K per month

My parents home, retirees, home paid off already, are now to pay $1800 per year, their rental value assessed to be $5000 per month ...


ok let's see... how often does the garbage truck collect garbage in front of your house... 3 times a week? .. that's 156 times for the year...

how many street lights are on your street? 10? do they come on every night? who pays the bill?

is your road paved? who pays to maintain it and the drains around it?

my point is... everybody wants better services from the regional corps and government... but somebody has to pay for it...

if there's an improvement in the community based on the increase in taxes... then i'm all for it...

also you may see rental prices going down as a result... which I'm also in favor of...

give it a chance...



Care to explain how you came to that conclusion?

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Postby Mobile-Authority » September 17th, 2009, 1:59 pm

novastar1 wrote:
I dont know why everyone dont realise this means an increase in everything

ie. Grocery , utilities, you name it

You think that businessmen just going to ABSORB the extra tax?
This will be passed on to the consumer



Don't you guys think about the flip side to this?The other 50% chances are that houses purportedly value at 1.5mil for a 3bdroom house in let say diamond vale...will drop to the actual value avg 600k-700k which is a more practical price for a house with concrete roof,3 rooms,1 bath on 4900s.f. of land.....lets all look on and see..after all that's all we can do for now


thats the rell ting....

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