Property Tax (Amendment) Act, 2017 (No. 6 of 2017)

CERTIFICATE In accordance with section 56(2) of the Jamaica (Constitution) Order in Council 1962, I hereby certify that this Bill shortly entitled "The Property Tax (Amendment) Act, 2017" is a Money Bill. PEARNEL CHARLES, CD, MP, JP Speaker JAMAICA No. ~ - 2017 I assent, [LS.] Governor-General. /Ott, dcur 9/ /v1~ olc17 AN ACT to amend the PropertyTaxAct. [ /Cf d~ i itfnl ~017 ] BE IT ENACTED by The Queen's Most Excellent Majesty, by and with the advice and consent of the Senate and House ofRepresentatives of Jamaica, and by the authority of the same, as follows: 1. This Act may be cited as the Property Tax (Amendment) Act, 2017, and shall be read and construed as one with the Property Tax Act, hereinafter referred to as the "principal Act" and all amendments thereto and shall be deemed to have come into operation on the 1st day of April, 201 7. Short title, construction and com mencement. 2 Repeal and replacement of First Schedule to principal Act. [No. ] The Property Tax (Amendment) Act, 2017 2. The First Schedule to the principal Act is repealed and replaced as follows " I. 2. 3. Column I Parish All parishes FIRST SCHEDULE Property Tax On property the unimproved value of which is $400,000.00 or less On property the unimproved value of which exceeds $400,000.00 but does not exceed $800,000.00 (a) for the first $400,000.00 (b) for every dollar thereafter On property the unimproved value of which exceeds $800,000.00 but does not exceed $1,500,000.00 (a) for the first $400,000.00 (b) for the next $400,000.00 (c) for every dollar thereafter 4. On property the unimproved value of which exceeds $1,500,000.00 but does not exceed $3,000,000.00 (a). for the first $400,000.00 (b) for the next $400,000.00 (c) for the next $700,000.00 (d) for every dollar thereafter 5. On property the unimproved value of which exceeds $3,000,000.00 but does not exceed $4,500,000.00 (a) for the first $400,000.00 (b) for the next $400,000.00 (Section 2) Column2 Rate of Property Tax $1,000.00 $1,000.00 0.50% $1,000.00 0.50% 0.55% $1,000.00 0.50% 0.55% 0.60% $1,000.00 0.50% The Property Tax (Amendment) Act, 2017 [No.] 3 Column I Column2 Parish Rate of Property Tax (c) for the next $700,000.00 0.55% (d) for the next $1,500,000.00 0.60% (e) for every dollar thereafter 0.65% 6. On property the unimproved value of which exceeds $4,500,000.00 but does not exceed $7,000,000.00 (a) for the first $400,000.00 $1,000.00 (b) for the next $400,000.00 0.50% (c) for the next $700,000.00 0.55% (d) for the next $1,500,000.00 0.60% (e) for the next $1,500,000.00 0.65% (f) for every dollar thereafter 0.70% 7. On property the unimproved value of which exceeds $7,000,000.00 but does not exceed $12,000,000.00 (a) for the first $400,000.00 $1,000.00 (b) for the next $400,000.00 0.50% (c) for the next $700,000.00 0.55% (d) for the next $1,500,000.00 0.60% (e) for the next $1,500,000.00 0.65% (f) for the next $2,500,000.00 0.70% (g) for every dollar thereafter 0.75% 8. On property the unimproved value of which exceeds $12,000,000.00 but does not exceed $30,000,000.00 (a) for the first $400,000.00 $1,000.00 (b) for the next $400,000.00 0.50% (c) for the next $700,000.00 0.55% 4 Amendment of section 19 of Registration (Strata lit/es) Ac/. [No. ] 9. The Property Tax (Amendment) Act, 2017 Colwnn I Parish (d) for the next $1,500,000.00 (e) for the next $1,500,000.00 (t) for the next $2,500,000.00 (g) for the next $5,000,000.00 (h) for every dollar thereafter On property the unimproved value of which exceeds $30,000,000.00 (a) for the first $400,000.00 (b) for the next $400,000.00 (c) for the next $700,000.00 (d) for the next $1,500,000.00 (e) for the next $1,500,000.00 (f) for the next $2,500,000.00 (g) for the next $5,000,000.00 (h) for the next $18,000,000.00 (i) for every dollar thereafter Column2 Rate of Property Tax 0.60% 0.65% 0.70% 0.75% 0.80% $1,000.00 0.50% 0.55% 0.60% 0.65% 0.70% 0.75% 0.80% 0.90% 3. Section 19(2) of the Registration (Strata Titles) Act is amended by deleting paragraph ( c) and substituting therefor the following " ( c) the relevant rate were applied to the total unimproved value of the parcel as apportioned by the unit entitlement of the strata lot.". Passed in the House of Representatives this 11th day ofApril, 2017 with one ( 1) amendment. ~~-~-~----- - --------- ---·--~~ PEARNEL CHARLES, CD. MP, JP Speaker The Property TCL,c (Amendment) Act, 2017 [No.] 5 Passed in the Senate this 21st day of April, 2017. THOMAS TAVARES-FINSON, co. QC JP President This printed impression has been carefully compared by me with the authenticated impression of the foregoing A ct, and has been found by me to be a true and correct printed copy of the said Act. ~~:;et' . g/4~--f {µ,~ '(;/erk to the Houses of Parliament.