THE Mayor and City Council (M&CC) has been getting a significant financial boost through its interest-free rates and taxes amnesty, garnering over $300M.Expressing his pleasure at the results so far, Town Clerk Royston King during an invited comment said that, “so far we have acquired over $300M and as we go along I am sure that before the month ends we will achieve our set target of $1B.”
It was announced earlier that an amnesty for defaulting taxpayers was being granted to afford them an opportunity to pay their rates and taxes, interest-free.
Residential property owners were offered a 100% amnesty on interest accrued, while commercial property owners were required to apply for a review by an amnesty panel, before securing between 50-75% amnesty on the interest accrued.
Meanwhile, all property owners were encouraged to take advantage of this deal, and settle their accounts so that the City Council could obtain the money to pursue a number of plans currently in the pipeline.
Over the years, persons have been withholding their rates and taxes, causing the M&CC to stall projects while finding difficulties in executing routine activities.