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Property re-evaluation slothful

Nov 05, 2011 News

 

 

 

The Mayor and City Council’s re-evaluation of properties around Georgetown is not moving as quickly as expected, even with personnel carrying out exercises almost daily.
According to Andrew Meredith, Treasurer of the Council, the team has visited every wards and delivered 1,500 outstanding notices.
He stated that there were several hiccups, including the incorrect amount of rates and taxes owed by tax payers.
Meredith said that this was a result of the Council using outdated tax software. He stated that for the past seven years the Council has not revamped its tax system. However, measures are being put in place for a new company to fix the system.
He said that the project is being executed with the assistance of the Ministry of Finance.
Meredith asserted the Council is expected to earn an additional $400M per annum when the properties are re-evaluated. This he indicated would help to improve the financial situation of the body.
The re-evaluation process commenced in July and the body is targeting new buildings in Regent Street, Cummings Street, Station Street, Sheriff Street, and Charlotte Street.
Meredith explained that the data gathered while visiting the various premises is taken to the Finance Ministry, where it is compared with information on file and the properties are re-evaluated.
The cash-strapped municipality earns approximately $2.5M daily but this is not substantial for its operations.
Meredith added that the Council should be earning $6M per day. It was noted that the re-evaluation of properties would only be effective if property owners pay their taxes.

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