Apply for Real Property Tax Exemptions In Bahamas By Online
Apply in-person:
- Someone who wants to apply to apply for Real Property Tax Exemption must contact the Finance Ministry’s Revenue Unit. Link to Contacts : Link
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How to Apply for Real Property Tax Exemptions In Bahamas - Then, you must download the tax application form Concession Next, you must download the Application Form for Tax Concession Download Application Form
- Fill out the form with the all the required information. Be sure to mark for the “Real exempt from property taxes” box on the form.
- Fill out the application form together with originals and copies of the supporting documentation to Revenue office.
- Family islands applicants are able to submit their application at the office of the local administration, and obtain approvals or rejections at the office of local administrative.
- The Ministry of Finance’s Revenue Unit will review the application and, if needed to request missing information or supporting documents.
- The committee will then go over your application and schedule an appointment for an inspection of your premises.
- The applicant has to accompany the an inspector on the visit to the site.
- The Special Project Coordinating Committee for the Preservation of Historical Properties will then meet to review the application along with the documents supporting it.
- The Ministry will notify the applicant by phone informing them of the application is available for collection.
- The Ministry will retain the documents for one day, after which the approval or rejection is sent to the applicants.
- Once the property owner has been approved, they receive the certificate that says that they are exempt from property taxes for a period of 20 years.
- If the property owner does not accept the offer, he is obliged to pay normal charges as stipulated by the Real Properties Act.
Required Documents For Apply for Real Property Tax Exemptions
- Applications for tax concessions The applicant must complete on the Real Property Tax Exemption box on the form. URL to Application Formula
- Historic Building Certificate
Office Locations and Contacts
Minister of FinanceSecretary of RevenueRevenue Unit
3rd FL. Cecil Wallace-Whitfield Centre
Cable Beach
P. O. Box N 3017
Nassau,
Bahamas,
E-mail: mofgeneral@bahamas.gov.bs
Opening hours: Monday to Friday, from 9:00 am until 5:00 pm, other than public holidays.
Website: Link
Local Administrator Offices Link
Eligibility
- The owner of a historical property, landmark that is significant in Bahamian History or parcel of land may apply an exemption for the land.
- The building needs to have a registered address with the National Register of Historical Buildings.
Fees
There is no additional cost for this service.
Validity
The exemption is applicable until 20 years old or for the remainder of the year of the Historical Building Certificate. For example, if your approval was granted in the year 18, your Certificate it will expire on December in the 20th year.
Documents to Utilize
Application Formula:
Link
Processing Time
Two weeks after the date of submission of the application.
Instructions
- The entities that are not eligible for an exemption from customs duty will be notified once they pick up all their documentation at the Office or by mail.
- The applicant may call Revenue Office Revenue Office to inquire as to the cause of the inadmissibility.
The Information You Need
- Applicant Details
- Owner Details
- Property Information
- Location
- Occupation
- Classification
- The number of resources in the property
- Scope of work and estimated repair costs
- Building plans are in the process of being approved
- The owner’s signature
- Signature of the owner or agent
- Date
The Document is required
The process is carried out to allow you to be exempt from the obligation to pay property taxes for a period of twenty years.
Information that could be helpful
- Every building that is registered in the National Register of Historical Buildings are exempt from the tax on real estate.
- Exemptions aren’t automatic and should be considered even if your property is as a Historical Buildings List.
- Click the links below for more details: Link 1 and Link 2.
External Links
Link