160 buildings in Capital city up for revaluation says City Treasurer

Officials at City Hall are working closely with the Valuation Department of the Finance Ministry to have some 160 properties around the capital city revalued at a rate comfortable to the Council.

City Treasurer, Ron McAlmont speaking at a recent press conference said given the constraints of the Finance Ministry’s Valuation Department, the City Council has not been able to get the desired response as it relates to the revaluation of buildings in Georgetown.

He noted that the last revaluation was conducted in 1994 and since that time many buildings have changed statuses, not only in use but structure.

“As it relates to properties that would have changed use from residential to commercial we continue to engage the Valuation Division at the Ministry of Finance a sit relates to those properties,” he noted.

McAlmont disclosed that the Ministry of Finance in collaboration with the Ministry of Communities is presently working on a programme to have a general revaluation of properties conducted countrywide.