Jamaica Government land tax offices have improved its technology over a period of time to make the tax payment procedure simpler. The large number of Jamaican people are unaware or confused about the rules and regulations of Jamaica Government Land Taxes because of which they often they face problems with the national land agency. You will get plenty of information on the internet. Land Taxes in Jamaica will cover property taxes as well as local rates payment.
As both these taxes are consolidated they can be used more efficiently and equitably throughout the country. The land taxes involve agricultural land or commercial one. The government is very much cooperative and continuously looking for improvement in the Jamaica land and property taxes. If the owner of land has any problem with the tax related issues it encourages communicating the problems with them by providing various facilities.
This will help them to improve tax procedures. Make note that whether you are buying or selling the house or land you have to pay transfer tax, attorney fees, stamp duty and may be commission fees. Out of which stamp duty is shared by buyer and seller which will bind them both for contract. Seller will pay 3% to 3.5% of property as attorney fees. In earlier day’s revenue collected from Jamaica government property taxes was around 1/3 of total revenue collection. Over a period of time it has been reduced. People of Jamaica have respect and are careful regarding paying their taxes.
If anyone found guilty or corrupted in Jamaica government tax office, strict action is taken against him. As it’s a nation’s treasury, it is like stealing the patrimony of the country, which is a very big crime. The strict system is followed by the department to make sure there is no corruption at all. They are providing services like 24/7 call center, e-mail; short messaging, etc. which will remind you your tax payment dates. They will send you messages on personal cellular phones. The Government of Jamaica is taking measures to improve the life of people in Jamaica using improved technologies.
There are around 1000 taxpayers who are taking advantage of these facilities and they are fully satisfied with the system. To improve the efficiency of tax administration offices, there around 20 people in each office working for you. Out of which 15 are agents, 2 supervisors and one manager. This will provide you greater volume of information which will reduce future confusion. The tax Administration department has started new facility to make the tax payment procedure simpler as Third party Payment.
It is same as paying your electricity bill or telephone bill. You can go to the payment office like paymaster or Bill-Payment. This service is going to start in near future. The Taxpayer Audit and Assessment Department have installed electronic drop boxes at 6 major offices along with Jamaica land taxes office Saint Ann. You have to put your tax return and a bank check and in return, you will get the verification notice. This will save your time and energy to stand in line of cash. As stated above Jamaica government land taxes include the transfer tax and stamp duty, if you are selling or buying the property.
The transfer tax should be paid if you are selling your property before the title is issued to you, which is possible in cases like the transfer is done after the death of the person as inheritance. In such cases the property value is estimated by market value minus estate administration expenses, funeral expenses and debts (up to 5% of the property value). This process may take 18 months or more. Until the paper work is completed, no property or asset is released.
Along with transfer tax you have to pay stamp duty which is now reduced by 4.5% from June 2009 because it was a big burden on both buyer and seller. As a result revenue collection was reduced but it increased the property sales and construction investment which helped it recovering the reduced collection. This also helped in creating entirely new job opportunities.