The Government of Guyana is moving ahead with its overhaul of property taxes across the country following today’s (Monday) signing of an agreement with a Canadian Company to fund a property and valutation system.
According to Communities Minister Ronald Bulkan, the signing with the Municipal Property Assessments Canada and Axilogic is in keeping with the government’s drive to bring all property values up to date.
During brief remarks, Minister Bulkan explained that the project is geared to utilise modern technologies to complete a national inventory of properties which will then be passed on to the Guyana’s Valuation Office to implement the necessary changes.
The first stage of the project will run for 12 months as a pilot in New Amsterdam at a contract cost of US$125,000.
It will assess current property valuations after which shifts in the market will be analysed.
Canadian High Commissioner Lilian Chatterjee, highlighting the importance that valuation has towards providing services, noted that the revenue generation initiative will foster development across the country.
Even as property valuations were not assessed in two decades, the topic could be one for intense debate ahead of the November 12 elections as the Parliamentary Opposition has made it clear that no increases in rates will be implemented in the areas that their Party wins.