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Valuing your
Residential or commercial property
8 Q. What is the Annual Taxable Value (ATV) for residential and commercial
properties?
A. ATV= 90% x ARV.
The Annual Taxable Value is 90% of the Annual Rental Value. This 10%
reduction is applied to all cases to cover periods when the property may
not be rented or when the landlord does not collect rent (voids and loss of
rent).
The ATV is the value used to calculate the property tax.
11 Q. Does every homeowner have to pay property tax, even those in government
housing?
A. Yes, property tax must be paid by every property owner.
Persons receiving disability grants, public assistance grants and senior
citizen grants may apply to the Board of Inland Revenue to have their
payment of tax (and interest which will accumulate for the time the tax
remains unpaid) deferred until such time as they can pay.
The tax and interest must be paid before the property is transferred to
another person.