Exemptions
Real Estate owned by Bahamians and situated in the Family Islands is exempt from property tax. Real Estate approved as commercial farm land (by the Ministers of Agriculture, Trade and Industry and Finance) is eligible for property tax exemptions.
Also exempt from property tax are:
- Unimproved real estate owned by Bahamians, meaning property without physical additions or alterations, or any works benefiting the land which have not increased the market value thereof by $5,000 or more;
- Places of religious worship; school buildings and their gardens and playing areas;
- Real estate owned by foreign governments;
- Real estate owned by foreign nations used for consular offices or residences of consular officials and employees;
- Real estate used exclusively for charitable or public service from which no profit is derived.
We invite you to contact any one of our agents or brokers to discuss your real estate objectives. We will be happy to share our market knowledge and experience with you to help you develop a successful real estate strategy. We look forward to working with you soon!