St. Kitts & Nevis Inland Revenue Department : Property Tax Payment

Organization : Inland Revenue Department
Type of Facility : Property Tax Payment
Country: St. Kitts & Nevis

Website : https://www.sknird.com/

Property Tax Payment :

Property Valuation is the valuation of real holdings, that is, land, permanent and temporary structures. Property Tax is a percentage of the value assigned to the property and is calculated by the formula:

Related : Inland Revenue Department St. Kitts & Nevis Applying For Business Licence : www.statusin.org/8309.html

Valuation X Tax Rate = Property Tax

The Property Valuation section consists of a team of officers headed by the Chief Valuation Officer, who is assisted by field and mapping officers and an administrative support team.

Payment Of Property Tax:
Property Tax is an annual tax that should be paid on or before the 30th of June each year. Property Tax Demand Notices (bills) are mailed out by the end of May each year. If you do not receive your Demand Notice by the first week in June, contact the Inland Revenue Department to have one sent or e-mailed to you.

Not having received a Demand Notice is not an excuse for non-payment of your property tax. If you have not paid your tax by the due date, interest of one percent (1%) per month will be added to the total amount due. You can request a Demand Notice at any time from the Department.

Your Property Tax Demand Notice will contain your address and the address of the property. It will also contain the current market value and the tax payable. Where a taxpayer has not paid his Property Tax for a previous year, the Demand Notice will contain arrears. Click Demand Notice to see a sample of a Property Tax Demand Notice (Bill).

Remember you can pay your Demand Notice at any time before the 30th of June, to avoid interest charges. The department will accept weekly or monthly payments if you wish to make payments in this manner, but they must be completed before the 30th of June deadline each year, to avoid interest. (Part VI, Division 4, Section 59 of Saint Christopher and Nevis Property Tax Act 2006 (No. 13 of 2006))

Every individual who owns property, unless exempted, must pay Property Tax. Some persons believe that the taxes they owe are eventually written off or somehow disappear.

This is not true. Property Tax remains on the account of the owner, and if the owner wishes to sell, all outstanding taxes must be settled before the transfer is completed. This is also true if a transfer is to be completed if the owner is deceased. Please make all efforts to pay your Property Tax in a timely manner.

Unpaid Property Tax Demand Notices are sent to the Collections Section of the Inland Revenue Department for settlement.

Objections To A Property Tax Valuation:
An objection is the process by which a taxpayer can voice their disapproval and challenge a tax assessment. There are guidelines to this process, and an individual cannot object because they “believe” an assessment is incorrect.

A taxpayer can object only if the bill or assessment is incorrect, and can provide information to the Inland Revenue Department that it is incorrect. Objections take time and resources in gathering, processing and verifying additional data, and the Department would like to be as efficient as possible in utilizing scarce resources.

A taxpayer can only object to the value that was placed on the property, by the Inland Revenue Department. They cannot object to the tax. If the value is correct, then the tax is correct.

As stated in the Property Section of the website, you have thirty 30 days to object to the valuation of your property, if you believe it has been over or undervalued. After that period, the valuation is permanent until the next valuation period. Once the objection has been received the Department has 45 days to reply to the objection. For more information on how property is valued, look in the Valuation of Property section of the Property Tax tab.

To start the objection process you must complete the Objections Form (OBJ-002 – Objection Form For Property Tax Assessments). In it, you must record your name, address, contact information, the property information and define the reasons under which you are objecting.

You may also include any other information that you think is relevant to your case. You should complete the form in its entirety to ensure faster service. The objections letter is sent to the Secretary of the Property Tax Review Board in care of the Inland Revenue Department.

Additional information on objections contained in OBJECTIONS AND APPEALS section of this website.