Government
of the British Virgin Islands is reminding property owners that a
period of amnesty between June 1 and December 31, 2013 has been
instituted to allow property tax payments to be made without penalty
to the Inland Revenue Department.
Premier
Orlando Smith said "The period of amnesty will allow taxpayers
to become current with their property tax arrears, without being
charged for the outstanding penalties."
Virgin
Islanders pay USD10 per year on the first acre of land or part-acre,
and USD3 on each additional acre. Expatriates pay TheUSD50 per year
for any land less than half an acre, USD150 per year for any land
above half an acre, and USD50 on each additional acre. House tax is
charged annually on all privately-owned buildings at the rate of 1.5
percent of assessed value. There is also a 12 percent stamp duty on
real estate transactions.
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