Land Tax Department sells property
THE?LAND?TAX?DEPARTMENT has sold one of the 35 private properties it had threatened to auction for non-payment of taxes.
Regency Cove Hotels and Allamanda Beach Hotel, both in Hastings, Christ Church, were among private properties – including hotels and other businesses – targeted in a recent “notice of sale”.
Land Tax Commissioner Wayne Forde told BARBADOS BUSINESS AUTHORITY that the Government department had worked out schedules with the owners and only one of the properties went under the hammer in the latter half of last year.
“The others are not up to be auctioned . . . because arrangements have been made basically to liquidate the debt.
If the arrangements are not
kept, you may find that they
might go back [up], but some have paid off in full and some have made arrangements.
“One was sold – that one was in Elizabeth Park [Christ Church]. That was a lot of land,” he said. The property formerly owned
by Khial Chatrani was sold for $165 000.
Other properties listed in the notice: Sunset Crest, St James apartments owned by Resorts International Limited; land and buildings in Pine Gardens, St Michael, owned by M F Investments Limited; and a similar portfolio belonging to Welchtown Investments Limited, in Welchtown, St Peter.