Valuation of Land (Amendment) Act, 2023 (No. 5 of 2023)

BILL AN ACT to amend the Valuation of Land Act, Chap. 58:03 [Assented to 7th June, 2023] ENACTED by the Parliament of Trinidad and Tobago as follows: 1. This Act may be cited as the Valuation of Land (Amendment) Act, 2023. 2. In this Act, “the Act” means the Valuation of Land Act. Enactment Short title Interpretation Chap. 58:03 Third Session Twelfth Parliament Republic of Trinidad and Tobago REPUBLIC OF TRINIDAD AND TOBAGO Act No. 5 of 2023 [L.S.] Legal Supplement Part A to the “Trinidad and Tobago Gazette”, Vol. 62, No. 90, 9th June, 2023 3. Section 2 of the Act is amended in the definition of “annual rental value” by inserting after the word “means” the words “an estimate of”. 4. Section 7 of the Act is amended by inserting after the word “6” the words “or 29”. 5. Section 7A is repealed and the following new section is substituted: “7A. (1) Where the Commissioner is of the view that more than fifty per cent of any of the following categories of land: (a) residential land; (b) commercial land; (c) industrial land; or (d) agricultural land, in Trinidad and Tobago have been valued and that the valuations should take effect, he shall notify the Minister in writing. (2) Within fourteen days of receipt by the Minister of the advice that the singular or several categories of the land valuations notified under subsection (1) should take effect, the Minister may, by Order, declare that the valuations are in effect.”. Passed in the House of Representatives this 24th day of May, 2023. Clerk of the House Section 2 amended Section 7 amended Section 7A is repealed and substituted 20 No. 5 Valuation of Land (Amendment) 2023 Passed in the Senate this 2nd day of June, 2023. Clerk of the Senate PRINTED AND PUBLISHED BY THE GOVERNMENT PRINTER, CARONI REPUBLIC OF TRINIDAD AND TOBAGO—2023 No. 5 Valuation of Land (Amendment) 2023 21