Jamaica’s property tax rates are based on the unimproved value of the land (i.e., the value of the land without any buildings or structures). The current property tax rates follow a tiered system, meaning that the rate increases as the value of the property increases. Below is a breakdown of the property tax rates:
Property Tax Rates in Jamaica (As of 2023)
Unimproved Land Value (JMD)Annual Property Tax RateUp to $400,000$1,000 (Flat Rate)$400,001 to $800,0000.5%$800,001 to $1.5 million0.6%$1.5 million to $3 million0.7%Over $3 million0.9%
Key Points to Remember:
Unimproved Value: The property tax is based on the land’s value without considering buildings or improvements.
Annual Payment: Property taxes are paid annually and can be done through the Tax Administration Jamaica (TAJ) website or at any TAJ office.
Penalties for Late Payments: Property owners who do not pay on time may face penalties, interest charges, or legal action.
Staying up-to-date with property tax payments helps avoid penal…
