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Newsletter | Articles Barbados Begins Land Tax Survey In a bid to prepare for the next property revaluation cycle, which will span the period 2008-2011, the Barbados Land Tax Department has started taking an inventory of every parcel of land in the island. It is anticipated the inventory programme will continue for the rest of this year. It will involve officers of the island’s Land Tax Department photographing the image of every building and updating the surveyors’ plans and house plans. On unimproved land Barbados levies an annual land tax at 0.6 per cent. The tax is 0.65 per cent on improved land. There is no tax for residential property with an improved value up to $125,000, but there is a 10 per cent tax on the excess if the improved value is more than $125,000. If the improved value is more than $350,000 there is a 0.45 per cent tax on the excess and a 0.75 per cent tax on the excess is the improved value is above $850,000. A rebate of tax of 0.5 per cent may be granted under certain circumstances, for example if a company, which is incorporated and resident in Barbados, or an individual, who is a Barbados citizen or a resident, has title to land that is being used exclusively for agricultural purposes.