Land Tax Amendment Act 1999

Link to law: http://www.bermudalaws.bm/Laws/Annual%20Laws/1999/Acts/Land%20Tax%20Amendment%20Act%201999.pdf

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Land Tax Amendment Act 1999
LAND TAX AMENDMENT ACT 1999

1

BERMUDA
1999 : 27

LAND TAX AMENDMENT ACT 1999

[Date of Assent 5 August 1999]

[Operative Date 5 August 1999]

WHEREAS it is expedient to amend the Land Tax Act 1967:

Be it enacted by The Queen's Most Excellent Majesty, by and
with the advice and consent of the Senate and the House of Assembly of
Bermuda, and by the authority of the same, as follows:

Citation
1 This Act which amends the Land Tax Act 1967 (hereinafter
referred to as "the principal Act") may be cited as the Land Tax
Amendment Act 1999.

Amends section 3A of principal Act
2 The principal Act is amended in section 3A—

(a) in subsection 4(b), by deleting the figure "$20,000" and
substituting the figure "$30,000" and by deleting the full
stop at the end of the paragraph and substituting the
words "; and"; and

(b) by inserting next after paragraph (b) the following—

"(c)then calculating forty per centum of the amount
remaining after such deduction.".

LAND TAX AMENDMENT ACT 1999

2

Inserts new section 3B in principal Act
3 The principal Act is amended by inserting next after section 3A
the following new section—

"General concessionary basis
3B (1) On a valuation unit to which this section applies
tax shall be charged, levied and collected on the general
concessionary basis laid down in subsection (4).

(2) As respects any tax period, this section applies to
any valuation unit in relation to which the criterion specified in
subsection (3) ("the qualifying condition") is met during any part
of that period.

(3) The qualifying condition for a valuation unit is that
it is a private dwelling.

(4) Tax on a valuation unit to which this section
applies shall be arrived at by—

(a) first calculating the amount of the tax falling to
be charged, levied and collected on the basis of
the valuation unit's full annual rental value; and

(b) then calculating forty per centum of the amount
arrived at under paragraph (a).

Amends Schedule to principal Act
4 The Schedule to the principal Act is amended by deleting the
Schedule and substituting therefor the Schedule set out in the Schedule
to this Act.

LAND TAX AMENDMENT ACT 1999

3

"SCHEDULE (Section 3)

LAND TAX ON PRIVATE DWELLINGS

Annual Rental Value

BAND $ %

1 0 - 7,200 1.5

2 7,201 - 14,400 3.0

3 14,401 - 21,600 6.0

4 21,601 - 28,800 15.0

5 28,801 - or over 22.0".