In an attempt to make a compromise, the Government has made shome changes. As of the recent 2009/2010 Budget, the Real Property Tax rates have been amended (yet again) and will now be as follows:
|
Property Value |
Real Property Tax Rate |
|
Up to $250,000 |
EXEMPT |
|
Between $250,000 and $5 million |
1% |
|
Above $5 million |
0.25% (applied on the value above $5 million) |
This should be the final amendment to the rates for this year’s budget, but if there’s any more news…we’ll be sure to let you know!