Problems with the property tax
Sir, – A residential property tax (RPT) is a normal feature of most modern economies. After 36 years, the re-introduction here of the RPT in its proposed form, is a cause of much confusion and anxiety due mainly to its requirement for owner valuation.
Many home owners are either reluctant to over-value – is there any redress for this? – or are fearful of under-valuation because of hinted but unspecified penalties. Among other shortcomings, this RPT is complicated by the combining of tax collection with the detection of tax evasion .
An alternative is the former rateable value (RV) system. This had the benefit of certainty in that like properties had a fixed identical statutory valuation.Thus owners were assured the same amount of tax was being demanded of all in their property category.
It is not too late to replace the proposed vague and somewhat arbitrary RPT with a reformed RV system that is simple, clear and equitable. – Yours, etc,