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Defaulting taxpayers…M&CC offers final 100% waiver on interest today

Sep 28, 2011 News

Taxpayers are today given the final opportunity by the Mayor and City Council (M&CC) to capitalise on its 100% waiver of interest on all rates owed, as the first 14-day amnesty period concludes.
According to Royston King, Public Relations Officer, the Council will be disappointed if corporations and home-owners do not take full advantage of this opportunity to have all their interest on accounts waived by its treasury.
He pointed out that the second 14-day period will commence tomorrow, where 50 percent of interest will be waived. The final 14-day period will see only 25 percent of interest waived. The Council anticipates earning $1B in outstanding amounts.
“Those who failed to achieve tidying up their accounts in the first phase of the amnesty should utilise the additional periods to ensure the integrity of their accounts and settle all outstanding payments with the city,” King stated.
He asserted that the Council continues to encourage all, including big businesses, to honour their civic obligations to the City. He added that these entities should comply with the laws and regulations of Georgetown, such as paying their rates and taxes, to encourage and sustain development in various areas including roads, drainage, parks and open spaces, public health, environmental services, street lighting and law enforcement.
Indeed, no business could operate in an environment that does not provide for such critical services, King said.
He further noted that though the City Council is the authority that is statutorily responsible for the provision of such services it needs money function effectively. Many citizens have not been paying their rates, yet the council has been making every effort to manage its responsibilities, King pointed out.
However, the burden of providing such services and facilities has weighed heavily on the extremely narrow revenue base of the council. Notwithstanding, the council is very conscious of the negative economic situation of many of its rate-payers, and as a result, it has granted amnesty.
It was related that the council has determined that this is the final amnesty that will be granted to defaulters in the city.

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