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.
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
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 Spainemail@example.com|
|25-27 Eastern Main Road, Arouca||692-6633
|Sangre Grande||Corner Brierley and Henderson Streets, Sangre Grandefirstname.lastname@example.org|
|Chaguanas||206 Caroni Savannah Road, Charlieville, Chaguanas||671-9139
|Rio Claro||29-31 Point-a-Pierre Road, Palms Club Building, San Fernando||653-6664
|San Fernando||29-31 Point-a-Pierre Road,
Palms Club Building, San Fernando
|Point Fortin||Techier Road, Point Fortinemail@example.com|
|Siparia||Siparia Administrative Complex, High Street, Siparia||649-2476
|Tobago||Caroline Building, No.2 Hamilton Street, Scarborough, Tobagofirstname.lastname@example.org|
The technical and professional staff of the Valuation Division. This will be done at no cost to the property owner.
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.
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.
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.
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.
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.
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.
Those funds will be utilized to remit your Property Tax payment to the District Revenue Office.
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.
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.
We can provide a copy of your deed within 24 hours at a cost of $1 per side of page.
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.
For additional enquiries, you can contact the Property Tax HOTLINE: 1-868-612-9700 option #7.
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