KINGSTON, Jamaica — The Senate yesterday approved the two Bills facilitating the changes to the new property tax regime implemented on April 1.

The Bills — the Property Tax (Amendment) (No.2) 2007, and the Property tax (Validation and Indemnity Act — were approved, after the Senate split into a divide called by the Opposition on two occasions. The Opposition lost both votes to the Government 10-5 and 10-6.

Under the April 1 regime, commercial properties faced an average increase of 137 per cent. However, the rates were reduced by the government following public disapproval.

The change in the tax rates meant that 448,360 or 58 per cent of the 776,487 properties reviewed have now seen a reduction, or no change, in property tax payments. The government described this as a  major increase from the 35.1 per cent who would have benefited based on the previously announced rates.

The Bill was piloted through the Senate, yesterday, by the Leader of Government Business and Minister of Foreign Affairs and Foreign Trade, Senator Kamina Johnson Smith.

Balford Henry