Kingston, Jamaica — 11 February 2026
Jamaica is likely to see new tax measures in the upcoming 2026/27 budget following the estimated US$8.8 billion in damage caused by Hurricane Melissa, according to commentary ahead of the tabling of the Estimates of Expenditure. The scale of destruction — equivalent to roughly 41 per cent of GDP — has altered the country’s fiscal position and may end nearly a decade without new taxes. For Jamaica’s property market, the implications are immediate and structural.
The Independent Fiscal Commission has projected a cumulative fiscal impact of 5.3 per cent of GDP over FY2025/26 to FY2029/30, alongside an estimated $80 billion shortfall in tax collections this fiscal year due to production and tourism disruptions. Parliament has already approved multiple supplementary estimates, lifting expenditure from approximately $1.26 trillion to about $1.39 trillion as recovery costs accumulated.
In practical terms, Jamaica now faces a combination of additional borrowi…
