Bahamas - Apply for Tax Concession for Real Property Tax Exemption

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Procedure

Apply In-Person

1. The Applicant has to submit an application form to the Revenue offices. Visit the following link for Contact Details Link.
2.  Family islands applicants can submit the application to the local administrator and collect approvals/rejection from the local administration office.
3. The Applicant can download the Form from the following Form Link.
4. A representative from the Revenue Unit of the Ministry of Finance will examine the application and, if necessary, request any missing information or evidence.
5. The committee will then assess your application and schedule a site visit. During the site visit, the applicant must accompany the inspector
6. The application and supporting documentation will next be reviewed by the Special Project Coordinating Committee for the Preservation of Historical Properties.
7. The applicant will be contacted by phone by the Ministry to advise them that the document is ready for pickup.
8. The document will be held by the Ministry for one day before the approval or rejection is mailed to the applicant.
9. Once the application is approved, the owner receives a certificate stating that they are exempt from property taxes for the next twenty years.
10. Entities that are not qualified for a customs duty exemption will be notified when they pick up their documents at the Office or receive them in the mail. The applicant might enquire about the basis for their ineligibility by contacting the Revenue Office.
11. If the application is denied, the owner must pay the standard duties as outlined in the Real Property Act.
    

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Required Documents

• Application Form
• Historical Building Certificate
  

Office Locations & Contacts

The Department of Inland Revenue
Shops at Carmichael Plaza, Carmichael Road
P.O. Box N-13
Nassau, Bahamas.
Email:[email protected]
[email protected]
Contact Link
Family Island Details: Contact Link

Eligibility

This exemption from Real Property Tax building can be applied for by the owner of a historical site, a land mark essential to Bahamian history, or a piece of land. The structure must be included on the National Register of Historical buildings.

Fees

Processing fee is not required.

Validity

This exemption is available for 20 years or until your Historical Building Certificate expires, whichever comes first. Note that if the approval is obtained in the 18th year of your certificate, it will expire on December 31st of the 20th year.

Documents to Use

Application Form Link

Sample Documents

Please attach sample completed documents that would help other people.

Processing Time

A representative from the Revenue Office will contact the applicant by phone within two weeks after receiving a completed application for exemption from customs duty, along with any needed supporting papers.

Related Videos

Videos explaining the procedure or to fill the applications.
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Instructions

Please provide other instructions related to the certificate/documents.
e.g. The state office holds birth records since january 1908.

Required Information

Name of Applicant/Agent/Property Owner

• Address
• Street
• P.O.BOX
• Telephone
• Fax
• Email

Name of Property

• Historic Name
• Original Date of Construction
• Property Assessment Number
• Description

Location of Building

• Street
• House No.
• P.O.BOX
• Community/ Settlement
• City/Town

Occupation of Building

• Occupied
• Vacant
• Abandoned

Classification

• Ownership of Property
• Category of Property
• Use of Property
• Materials

• Number of Resources within Property
• Scope of Works
  
• Estimated Cost of Repairs
  
• Status of Building Plans
  
• Owner Attestation
  

Need for the Document

It is required to apply for tax concession for real property tax exemption.

Information which might help

Enter other information which might help.

Other uses of the Document/Certificate

Please explain what are other uses of obtaining this document/certificate.
e.g. Birth Certificate can be used as proof of identity.

External Links

Website Link

Others

More information which might help people.