Lower Land Tax Bills Coming for Residential Properties Valued Above $450,000
**Issued jointly by the Ministry of Finance & The Barbados Revenue Authority*
The Ministry of Finance advises that updated land tax bills will be issued for residential properties valued above $450,000 to ensure that the tax payable reflects revised residential tax bands, resulting in lower tax amounts.
Following the widening of the zero per cent tax band from $300,000 to $400,000, which increases the number of residential properties with no tax payable, a verification exercise identified that bills for properties valued above $450,000 did not fully reflect the intended revised tax bands. The relevant bills have been identified, and the Barbados Revenue Authority has begun recalculating and reissuing them.
The correct residential land tax bands are:
* 0 per cent on the improved property value up to $400,000
* 0.1 per cent on the portion above $400,000 and up to $550,000
* 0.7 per cent on the portion above $550,000 and up to $950,000
* 1 per cent on the portion above $950,000
The bills for residential properties valued below $400,000 are accurate and will remain unchanged. The bills for residential properties valued between $400,000 and $450,000 were also calculated correctly and will not be reissued. More than 62,000 residential property tax bills remain unchanged.
The correction applies only to residential properties and does not affect non-residential properties.
The reissue date for the updated bills is August 31, 2026. These bills can already be accessed on the Land Tax Portal and will also be sent via the mail.
To provide sufficient time for impacted property owners to receive and pay their updated bills, the land tax payment deadlines have been extended as follows:
* September 30, 2026, for in-person payments to benefit from the 10 per cent discount
* October 30, 2026, for in-person payments to benefit from the 5 per cent discount
* December 1, 2026, for online payments, _incl. wire transfers_ to benefit from the 10 per cent discount
From September 1, 2026, residential property owners who have already paid a bill for a property valued above $450,000 may request a refund of the net overpayment or have the amount credited towards their 2027 land tax bill or any outstanding arrears.
Requests may be submitted through any of the following channels:
* Online in the Land Tax Portal at bra.gov.bb
* By email at [bramail@bra.gov.bb]
* By telephone at 429-ETAX(3829)
The Ministry of Finance and the Barbados Revenue Authority acknowledge the inconvenience caused and are working to complete the reissuance process as quickly as possible.