Jamaica Property Tax Guide

Annual Property Tax

• Rate: 0.5% to 0.8% of the unimproved value of the land (assessed by the Commissioner of Lands).
• Rates vary by parish and property use classification.
• Payable annually by the registered property owner.
• Billed by the Tax Administration Jamaica (TAJ) on behalf of local parish councils.
• Penalties apply for late payment (10% per annum plus interest).

Transfer Tax

• Rate: 0.5% of the higher of consideration or market value.
• Payable by the vendor/seller on the transfer of real property.
• Exempt for transfers between spouses and for certain family transfers.
• Principal residence transfers may qualify for full or partial exemption.

Stamp Duty

• Rate: 2% to 5% of the consideration value on a sliding scale:
• 2% on the first JMD 1,000,000 for principal residences.
• 5% on amounts above JMD 1,000,000 for commercial and non-principal residence properties.
• Payable by the purchaser/buyer on the deed of conveyance.
• Additional stamp duty may apply on mortgages and other property-related documents.

Property Tax Exemptions and Reliefs

• Principal residence: Partial exemption from transfer tax and reduced stamp duty rates.
• Agricultural land: Reduced annual property tax rates for bona fide agricultural use.
• Charitable organizations: Properties used for religious, educational, or charitable purposes may be exempt.
• Government properties: Properties owned by the Government of Jamaica are exempt.

Filing and Payment

• Annual property tax is billed by TAJ and payable by the due date stated on the notice.
• Transfer tax and stamp duty are paid at the time of property registration at the National Land Agency (NLA).
• Property owners must update their registration with TAJ upon change of ownership or address.

Key Takeaways

• Annual property tax: 0.5–0.8% of unimproved land value.
• Transfer tax: 0.5% paid by vendor.
• Stamp duty: 2–5% paid by purchaser.
• Principal residence exemptions available for transfer tax.
• No CGT on property for individuals.