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Real Estate Taxes
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The government of Barbados levies an annual property tax which is due and payable
on the 31st March of each year. For early payment, there is a discount
on the assessed tax. The property taxes are revised every three
years by the Land Tax department. The following table gives the
tax rates.
|
| Residences |
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| Up to $125,000 |
|
Nil |
| $125,000 - $350,000 |
|
0.1% |
| $350,000 - $850,000 |
|
0.65% |
| Over $850,000 |
|
0.75% |
| |
| Commercial |
|
0.65% |
| Unimproved Land |
|
0.60% |
| Hotel |
|
0.65% |
| |
| *Villas |
|
0.65% |
*Rebate of 25% on
production of Certificate issued by the Barbados Tourism
Authority once qualifications are met. |
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