Land Valuation and Tax (Special Provisions and Postponement of Preparation of Draft Valuation List) Act 2025

What this bill does

This bill extends the life of Bermuda's current property valuation list (from 2015) for one more year until December 2026. It also delays the preparation of the next property valuation list by one year, pushing the deadline from December 2025 to December 2026.

If passed (voted YES)

• Property values used for land tax calculations will remain based on 2015 assessments through 2026
• The government gets an extra year to prepare new property valuations before they take effect
• Current land tax bills will continue to be calculated using property values that are now about 10 years old

If rejected (voted NO)

• The government must prepare new property valuations by December 2025 as originally scheduled
• Updated property values reflecting current market conditions would be implemented sooner
• Property owners could see changes to their land tax bills based on more recent property assessments

Who it affects

This affects all property owners in Bermuda, as it determines how their land taxes are calculated. It particularly impacts those whose property values have changed significantly since 2015, as their tax assessments won't be updated until at least 2027.