Property tax law should be repealed
February 19, 2004
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As a result of the general elections conducted and supervised by Mr Hucks in 1964 I was appointed Second Deputy Prime Minister, Minister of Health and Housing and Leader of the House. I have always advocated private ownership of property so that my children may inherit same when I am dead and gone from this mortal world.
The government of Guyana should turn to more lucrative avenues to collect tax rather than the imposition of property tax on property. We already pay rates and taxes.
Neville James Bissember
The Property Tax Act was passed in 1962. It at present requires (as amended - the limits have been raised) every individual whose net assets exceed in value $11/2 million to make a return of all his or her assets and liabilities every year and to pay a graduated tax on the net value in excess of $5 million which starts at 1/2 of 1% and rises to 3/4 of 1%.