As the Axe the Tax March gets set for Woodford Square on Saturday, this blog decided to clear the air on the not-so-new property tax that has angered homeowners into an angry fireball. Citizens, despite cursing and more cursing, were about to resign themselves to paying the much higher property tax when, out of nowhere, a flagpole appeared. Here is the untold story about that property tax.
1. Who is responsible for valuing my property?
2. Is Property Tax a new tax?
No, but they way you will feel about it will be new, especially after you get your first tax bill.
3. How is the value of my property calculated?
It depends on the design, room space, quality of utilities, party affiliation.
4. Do all properties in Trinidad and Tobago have rental value?
5. Will all properties on the same street have the same value?
No, and as we said before in 3, it depends
6. What is my Annual Rental Value?
The value of what the Government feels is your monthly rental times twelve.
7. How much tax will I have to pay?
As much as the Government feels you could afford.
8. Do owners of Government Houses have to pay property tax?
Yes but the value will be a mere pittance compared to those who by nature of their politics were unable to get Government housing.
9. What will the money collected from property tax be used for?
Mainly San Fernando Hill and flagpoles.
10. Should I get angry with the Government for taxing me more despite the blatant wastage of taxpayer’s money over the years and well into the foreseeable future?
No, because the Government promise to keep San Fernando Hill looking pretty
11. How did the Government decide on how much to increase my property tax by?
The New Property Tax came to the Minister of Finance when she heard a scream while looking at a football match that was being played on, of all things, a level playing field. It appeared that in a nearby room, a typical middle class home owner was being routinely interrogated by the revenue authority to determine how much more he could give the Government without dieing and he screamed out a value of 3% times ARV less 10% during the waterboading episode. The Minister, desperate for ideas, heard the screams and created the tax.
12. What can the taxpayer look forward to in the New Year?
Quite a bit; the Government plans to get blood from the middle class stones in the following year.