The following guide (to the right of the screen (Property Tax Computation Guide) provides a basic computation for property tax assessment from the years 2020, 2014-2019, 2000-2013 & 1993-1999. This guide can be downloaded for ease of access. Please note that it is not a substitute for the law. In case of inadvertent conflict the Law will prevail.
RATES OF PROPERTY TAX
Property Tax shall be charged at the following rates:-
For Individuals as from the Year of Assessment 2020
|On the first $40,000,000 of Net Property||Nil|
|For every dollar of the next $20,000,000 of net property||½%|
|For every dollar of the remainder of Net Property||¾%|