Lower Land Tax Bills Coming for Residential Properties Valued Above $450,000
**Issued by the Ministry of Finance* 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 the revised residential tax bands.
Following the increase in the residential property tax-free threshold from $300,000 to $400,000, a verification exercise identified that bills for properties valued above $450,000 did not fully reflect the 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
Bills for residential properties valued between $400,000 and $450,000 were 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 updated bills are expected to be distributed by August 31, 2026.
To provide sufficient time for 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 via the BRA portal at [https://bill.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.