Acting Controller of the Department of Inland Revenue, Shunda Strachan appeared at a press briefing at the Office of the Prime Minister on Thursday where she addressed real property tax arrears.
Strachan told reporters real property tax arrears currently stand at approximately $900 million dollars. The Department of Inland Revenue is increasing its efforts to collect the outstanding funds. Strachan said, “and so they have a thirty day span to come in and to pay off their account. There are no payment plans. There are no more amnesties. All of those things are past and now we’re seeking to recover the full tax amount that is due on those accounts.”
The government has issued a power of sale notice on more than one hundred accounts in arrears. “Power of sale or the authority for us to exercise power of sale is found in section 25 (a) of the Real Property Tax Act. And that provision allows us to recover real property taxes from all property classifications except those that are Bahamian owned owner occupied properties. And on any Bahamian owned owner occupied property that is in arrears for more than seven months from the due date,” Strachan said.
According to the Acting Controller there are 42,492 accounts that have real property tax arrears of more $500.
