Senate passes property tax bill

The content originally appeared on: Trinidad and Tobago Newsday

Finance Minister Colm Imbert – File photo

A DIVIDED Senate on March 25 passed the Property Tax (Amendment) Bill 2024, already passed last week Monday by the House of Representatives.

Some 13 senators spoke on the bill, piloted by Finance Minister Colm Imbert.

The bill proposes to shift the property tax rate from three to two per cent of a property’s annual rental value, but allows the minister to make future adjustments, subject to Parliament’s oversight.

The Senate passed the government bill by 16 votes for, seven against, and seven abstentions.

Independent Senator Helon Francis voted “no” to the bill, as did all opposition MPs, and seven independent senators abstained.

A DIVIDED Senate on Monday night passed the Property Tax (Amendment) Bill 2024, previously passed last week Monday by the House of Representatives.

Some 13 senators spoke on the bill, piloted by Finance Minister Colm Imbert.

The bill proposes to shift the property tax rate from three to two per cent of a property’s annual rental value, but allows the minister to make future adjustments subject to Parliament’s oversight.

The Senate passed the government bill by 16 votes “for”, seven “against”, and seven abstentions.

Independent Senator Helon Francis voted “no” to the bill, as did all Opposition MPs, while seven Independent Senators abstained.