Ask The Experts

Property Transfer Tax

Posted By Cindy

Q: In Barbados, how is the property transfer tax calculated and how much is it on average?

A:  The Property transfer tax is calculated in the following ways:

  • On unimproved property, the tax is 2.5%.
  • On improved property, the first US $75,000 is exempt.
  • On improved property, amounts over US $75,000 are calculated at 2.5%.

However, it is important to know that the tax is based on the higher amount: either the achieved price or the assessed land tax value.

Filed Under:Buying, Selling, Legal