- All lands in Jamaica are valued for the assessment of the Property Tax.
- Under the Land Valuation Act, new valuations should be conducted every five years by the National Land Agency.
- Land valuation is conducted by professional valuation surveyors from the National Land Agency and private sector.
BASIS OF VALUATION
Valuation in Jamaica is based on the unimproved value of the land, as set out in the Land Valuation Act. Under this system, the valuator takes into consideration the market value of the land, that is, the price which the owner would expect to receive, if he were selling the land alone and disregarding the value of any improvements, such as building and crops.
- There are several factors which determine the value of land.
- Size of the parcel of land
- Zoning, that is, location and use
- Its potential for development
- Type of land
- Soil Classification
- Access to Municipal and Commercial Services
- Neighbourhood characteristics
THE 2013 VALUATION
The 2002 valuation was the first valuation to be undertaken in Jamaica in ten years. The last valuation was done in 1992. Another valuation has just been completed in 2013
- Approximately 750,000 properties are now listed on the National Valuation Roll. Not including Government properties, churches and other properties under exemptions.
OBJECTIONS TO LAND VALUATION
Landowners who are dissatisfied with the assessed value of their property may serve a notice of Objection on the prescribed form from the Commissioner of Land Valuations within 60 days after receiving the Notice of Valuation. Objections may be made for the following reasons:
- that the value assessed is too high
- that lands which should be included in one valuation have been valued separately
- that lands which should have been valued separately have been included in one valuation
- that the person(s) named in the Notice is/are not the owner(s) of the land
- Notice of Objection forms are available at Tax offices islandwide.
- Persons who are objecting to the property value. as assessed, may also fill in a Declaration of Value Form, indicating the amount which they believe is the more accurate value of the land. The landowner must pay 75% of the tax liability, while the objection is being considered.
- All matters relating to the valuation of the land should be addressed to:
National Land Agency,
Land Valuation Division,
8 Ardenne Road,