A while back I wrote an article on Property Tax with an example calculation using my property and a brief discussion as to why I think it is a good idea. Padna if you haven’t read that article then use the search bar and find it, unless you ain’t serious about financial life. On a more serious note, I’ve seen all the brouhaha in the media and comment sections about the notice from the Valuation Division. While we all know most people in those comment sections have single digit IQs and triple digit political/racial agendas, they do have partially legitimate concerns.
First off the Valuation Division says the valuation return that all land owners are required to submit is not property tax. While this is true it is a little disingenuous. The valuation return and the resultant rentable value are the basis for which property tax would be calculated. So while we won’t be required to make any payments immediately, the “comment section trolls” are partially correct, property tax is back on the horizon and rightfully so. Any real country has some form of property tax. Maybe that’s where the confusion lies. How could Trinidad not be a real place for most things but then be a real place for things like property tax. That making any sense??
Anyway, the purpose of this article not to rehash the benefits of property tax or allay people’s fears of some exorbitant tax being implemented. This article is not even to get into the whole inane argument of “where we tax dollars going?!”, “crime!!!”, “this is a dictatorship!”, “who tiefing from treasury”, who “too wicked!!!”….yada yada yada. It is to help you understand that if you are required to submit a valuation return you need to start gathering the required documents NOW because the list long like Roy Cape ras.
Since I am a helpful dude and semi-good-looking (hey it’s my page I could post what I want) I have provided a summarized listed of the requirements right here (NOTE: this is just a brief summary, there are more details on each requirement on the actual website):
- Copy of One (1) National Identification document of Owner and/or Occupier
- WASA Bill addressed to the property for which you are filing this Return. (THIS IS PROBABLY THE MOST ANNOYING TO GET). Why one government institution can’t get info from another one? We in 2021 GAD-NABBIT!
- Title Document (if available) (e.g. Deed or Certificate of Title)
- Two (2) Photographs of the subject Property – Front view and side view.
- Building Plans (if available)
- Survey Plan (if available)
- Rental/Lease Agreement (If available)
Other data required:
- Owner/Occupier ID Number
- Certificate of Title Reference Number
- Deed Reference Number
- Area (square metres, m2) of the property’s main dwelling unit (inclusive of an attached porch or deck).
- Clear pictures of any structural defects in the main dwelling unit that may affect the value of the property.
Now there are 13 offices across the country you can physically carry your documents to or you can go to the website at https://www.valuationdivision.gov.tt register and submit your information electronically. However, if you use the online platform and don’t do it in one-go when you return to resume your submission you will have to upload all the documents again because they say they don’t store your incomplete rubbish (I’m paraphrasing).
Anyway, just remember the fine for not submitting the information by November 30th, 2021 is TT$5,000. I don’t know about you but I hate just giving away money because I was too lazy or filled with righteous indignation to do what I am supposed to do BY LAW. Whether you agree with the whole property tax or not, that is the law. So as always SUCK IT UP BUTTERCUP and do what you need to do.