Land Tax Act 1967

FA E R N AT F TQUO U BERMUDA LAND TAX ACT 1967 1967 : 237 TABLE OF CONTENTS Interpretation Rate of tax Exemptions Special concessionary basis [repealed] Tax period applicable to exemption Transitional [omitted] Date of classification Date of operation of Act Duration of Act Transitional saving SCHEDULE LAND TAX ON PRIVATE DWELLINGS [preamble and words of enactment omitted] Interpretation In this Act— “the Act” means the Land Valuation and Tax Act 1967. “private dwelling” means a valuation unit which is used wholly or mainly as a private dwelling. For the avoidance of doubt it is hereby declared that no valuation unit which is used as or forms part of an hotel, cottage colony, guest house, lodging house, club or tourist accommodation for reward is a private dwelling. 1 2 3 3A 3B 4 5 6 7 8 9 1 (1) (2) 1 LAND TAX ACT 1967 Subject to this section, this Act shall be construed as one with the Act, and expressions used in this Act shall, unless the context otherwise requires, have the same meaning as in the Act. Where by or pursuant to section 2 different rates of tax are in fact applied to different portions of the annual rental value of a valuation unit, then the word “rate”, where used in the Act or elsewhere in this Act in relation to tax to be charged, levied and collected on that unit, shall, except where the context otherwise requires, be taken as referring to all those first-mentioned rates collectively. Rate of tax Subject to this Act, tax shall be charged, levied and collected on every valuation unit pursuant to the Act at the following rates:— where the valuation unit is a private dwelling, in respect of such portion of the annual rental value of the unit as falls within a band specified in the first column of the Schedule, the rate specified in the second column of the Schedule in relation to that band; in respect of any other valuation unit, the rate of 4.4% of the annual rental value of the unit. [Section 2 amended by 1990:21 effective 1 July 1990; by 1991:13 effective 1 July 1991; by 2000:11 s.2 effective 1 July 2000; and by 2004:41 s.2 effective 1 January 2005] Exemptions No tax shall be charged, levied or collected on any valuation unit— declared by the Minister of Finance by order published in the Gazette to be exempt from tax; or exempted from tax under any other statutory provision. Special concessionary basis No tax shall be charged, levied or collected on a valuation unit to which this section applies. As respects any tax period, this section applies to any valuation unit in relation to which the criteria specified in subsection (3) (“the qualifying criteria”) are met during any part of that tax period. The qualifying criteria for a valuation unit are— that it is a private dwelling; and that it is actually occupied by an individual who— is the owner of that unit; is sixty-five years of age or over; and possesses Bermudian status. (3) (4) 2 (a) (b) 3 (a) (b) 3A (1) (2) (3) (a) (b) (i) (ii) (iii) 2 LAND TAX ACT 1967 Deleted The expression “owner” in subsection (3)(b)(i) has the same meaning as it has in the Act in that expression’s application to an individual, and includes an individual whose ownership is that of a joint tenant or a tenant in common as mentioned in section 1(2) of the Act. [Section 3A amended by 1999:27 s.2 effective 5 August 1999; subsection (4) amended by 2000:11 s.3 effective 1 July 2000; subsection (4) substituted by 2002:1 s.2 effective 1 July 2002; subsection (1) substituted, and (4) deleted, by 2004:41 s.3 effective 1 January 2005] [Repealed] [Section 3B inserted by 1999:27 s.3 effective 5 August 1999; amended by 2000:11 s.4 effective 1 July 2000; and repealed by 2004:41 s.4 effective 1 January 2005] Tax period applicable to exemption An order issued under section 3(b) may relate the exemption accorded thereby to such tax periods as may be specified therein and may be retrospective. The affirmative resolution procedure shall apply to an order made under section 3 (a). Transitional [omitted] Date of classification Where the tax in respect of a valuation unit depends on its classification, the normal purpose for which it is designed, constructed or used at the commencement of the relevant tax period shall determine its classification and no change of design, construction or user during that tax period shall affect the tax in respect thereof for that tax period. Date of operation of Act Subject to the provisions of section 9, the provisions of this Act shall have effect as from the 1st July, 1967, in relation to the tax period commencing on that date and each subsequent tax period. Duration of Act This Act shall continue in force indefinitely. Transitional saving Save as expressly herein provided nothing in this Act shall derogate from the provisions of the Land Valuation and Tax Act 1967 . (4) (5) 3B 4 (1) (2) 5 6 7 8 9 3 LAND TAX ACT 1967 SCHEDULE (section 2(a)) LAND TAX ON PRIVATE DWELLINGS ANNUAL RENTAL VALUE BAND $ RATE OF TAX % 1 0 - 11,000 0.60 2 11,001 - 22,000 1.20 3 22,001 - 33,000 2.40 4 33,001 - 44,000 4.80 5 44,001 - 110,000 9.60 6 110,001 + 19.20 [Schedule amended by 1990:21 effective 1 July 1990; by 1991:13 effective 1 July 1991; by 1992:25 effective 1 July 1992; by 1994:14 effective 1 July 1994; by 1996:3 effective 1 July 1996; by 1999:27 s.4 effective 5 August 1999; by 2000:11 s.5 effective 1 July 2000; by 2001:5 s.2 effective 1 July 2001; by 2004:41 s.5 effective 1 January 2005; amended by 2010 : 20 s. 2 effective 1 July 2010] [Assent Date: 28 July 1967] [Amended by: 1968 : 368 1971 : 83 1971 : 116 1972 : 55 1974 : 47 1977 : 51 1980 : 14 1982 : 80 1983 : 40 1983 : 63 1985 : 8 1986 : 7 1987 : 23 1988 : 9 1989 : 11 1990 : 21 1991 : 13 1992 : 25 1994 : 14 1996 : 3 1999 : 27 2000 : 11 4 LAND TAX ACT 1967 2001 : 5 2002 : 1 2004 : 41 2010 : 20] 5