(868) 623-TTMF or 625-TTMF (8863)
info@ttmf-mortgages.com

1. Good day, I need some information on the new property tax. What do I need to do?

The Ministry of Finance has advised that all property owners are required to complete a Valuation Return Form and submit it to any office of the Valuation Division.

2. Where can I get the form?

The Ministry of Finance has advised that the Valuation Return Form (VRF) will be delivered to property owners via post or forms can be collected from any Valuation Division office or downloaded from the Ministry’s website: http://www.finance.gov.tt/propertytax

3. What to do when I have completed the form?

Property owners are required to complete the VRF and submit it to any office of the Valuation Division. Locations are seen below.

Valuation Division Offices and Contact Information

Area Office Address Telephone E-mail Address
Port of Spain 109 Henry Street, Port of Spain 623-4221/5 valdiv.pos@gov.tt
Tunapuna &

Arima

25-27 Eastern Main Road, Arouca 692-6633
692-6634
valdiv.aro@gov.tt
Sangre Grande Corner Brierley and Henderson Streets, Sangre Grande 668-2775 valdiv.gde@gov.tt
Chaguanas 206 Caroni Savannah Road, Charlieville, Chaguanas 671-9139
671-6692
valdiv.chag@gov.tt
Rio Claro 29-31 Point-a-Pierre Road, Palms Club Building, San Fernando 653-6664
652-4621
651-2427
valdiv.rio@gov.tt
San Fernando 29-31 Point-a-Pierre Road,
Palms Club Building, San Fernando
653-6664
652-4621
651-2427
valdiv.sando@gov.tt
Point Fortin Techier Road, Point Fortin 648-2052 valdiv.pf@gov.tt
Siparia Siparia Administrative Complex, High Street, Siparia 649-2476
649-3640
valdiv.sip@gov.tt
Tobago Caroline Building, No.2 Hamilton Street, Scarborough, Tobago 639-2970 valdiv.tb@gov.tt

4. Who is responsible for valuing my property?

The technical and professional staff of the Valuation Division. This will be done at no cost to the property owner.

5. How will I know when the Field Assessor is coming to visit my property?

The Valuation Division may conduct a physical assessment of the property. Based on the documents you have submitted, if it is determined that a physical assessment of the property is required, the Commissioner of Valuations will give you a written notice.

6. How is the value of my property calculated?

The staff of the Valuation Division will take several factors into account in calculating the rental value of the property. Some factors include property classifications, quality of construction and condition, the location of the property and the market rental value of similar properties in the neighbourhood. However, it is the Ministry of Finance that will determine how this will be calculated. Please refer to the Ministry of Finance website: http://www.finance.gov.tt/propertytax for further details.

7. What is the Annual Rental Value (ARV)?

The Annual Rental Value (ARV) is the annual rent which a particular parcel of land is likely to attract having regard to the purpose for which the land is actually used, occupied or tenanted, or where it is not actually used, occupied or tenanted, having regard to the purpose for which it is suitable.

8. What is the Annual Taxable Value (ATV)?

The Annual Taxable Value is the annual rental value as determined by the Board of Inland Revenue (BIR). The Annual Property Tax for residential properties is calculated at 3% percent of the Annual Taxable Value.

9. Who is responsible for paying my property tax?

TTMF will pay the Property Tax on your behalf as we paid the Land and Building taxes in the past. For us to do so, you must follow the Ministry of Finance Valuation Process until the Notice of Assessment is received. You will then be required to deliver/send the Notice of Assessment to any of TTMF’s branches in the drop boxes provided. Once we are in receipt of your Notice of Assessment we will make the necessary arrangements to review/revise your mortgage instalment, advise of any shortfall should this occur, and remit the payment of your Property Taxes accordingly.

10. Will my monthly instalment increase because of this property tax?

More than likely, but this will only be known when the Notice of Assessment is provided by the Board of Inland Revenue. Once you have submitted your Notice of Assessment we will make the necessary arrangements to review/revise your mortgage payment, advise of any shortfall where this may occur, and remit the payment of your Property Taxes accordingly.

11. What happens to the money you have been collecting for Land and Building Tax from me every month?

Those funds will be utilized to remit your Property Tax payment to the District Revenue Office.

12. You pay the WASA bill on my behalf, can I get a recent receipt from you to submit with the Valuation Return Form?

Although we have been making and can confirm the payments to your WASA account, individual receipts are not available. I can however tell you your WASA account number so you can visit any of WASA’s office to get an updated bill to submit with your Valuation Return Form.

13. You pay the Land and Building taxes on my behalf, can I get a receipt from you to submit with the Valuation Return Form?

We have been making the payments to the District Revenue Office/ Regional Corporation on your behalf, however, we do not collect individual receipts. I can tell you your Assessment Number so that you can request a Certificate of Payment from your District Revenue Office. This certificate can then be submitted with your Valuation Return Form.

14. May I get a copy of my deed?

We can provide a copy of your deed within 24 hours at a cost of $1 per side of page.

16. I had a mortgage with TTMF and I would like to get a copy of my deed?

Unfortunately, we are unable to provide a copy of your deed as your account with us is closed and your documents would have been returned to you. You may however visit the Registrar General’s Department at the Certified Copies counter to request a copy of your deed. The Registrar’s General Office is located South Quay, POS.

17. Do you know the number for the Valuation Division in The Ministry of Finance?

For additional enquiries, you can contact the Property Tax HOTLINE: 1-868-612-9700 option #7.

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