Georgetown Mayor, Alfred Mentore clarified on Friday that the city council has no intention of conducting a revaluation of all properties under its purview. In light of the growing number of renovations to provide office space, warehouses, apartments, and even restaurants for players in the oil and gas industry, Mentore said it is only fair that these properties are properly assessed and made to pay their fair share of taxes.
Mentore made this statement in response to concerns raised by PPP/C General Secretary, Dr. Bharrat Jagdeo during a press briefing yesterday. Jagdeo said he is aware that Mentore intends to approach Senior Minister with responsibility for Finance, Dr Ashni Singh, to arrange a meeting between the City Council and the ministry’s Valuation Division to approve a valuation and revaluation process.
Jagdeo said that this appears to be a calculated strategy by the PNC-led City Council to sow discomfort and dissatisfaction among residents in the city, especially during an election year. He further noted that the council’s request in this regard would not be approved by government.
In a letter to the press, Mentore said it appears that Jagdeo was not properly advised on the purpose of his meeting with Dr. Singh. Mentore said he requested an urgent audience with the minister to explore ways in which both sides can work together to enhance the efficiency of the Valuation Department.
The mayor said this partnership is crucial to ensure that rebuilt properties, particularly those that have changed the landscape in the city, as well as those that have undergone significant renovations, are properly valued for rating purposes, allowing them to contribute their fair share of taxes to the city.
He added, “…This is a matter of fairness as there are many newly constructed or heavily renovated properties in Georgetown that are not paying their correct taxes because they have not been properly valued.
“This issue is one that directly affects the citizens who are consistently fulfilling their tax obligations–ordinary homeowners and pensioners who are doing their part to ensure the capacity of the Council to provide vital municipal services to local communities.”
Although there has not been a revaluation of properties in the city for nearly three decades, the mayor insists that the country now faces a grave case of inequality which all stakeholders should work together to address.
Mentore therefore called on the Vice President to reconsider his position and clarify his statements, “as they have been detrimental not only to the credibility of the council, but to the people of Georgetown who deserve transparency and fairness in matters of taxation.”
He was also keen to add, “…the Vice President literally has no business interfering with how we regulate our business.”
**29 YEARS LATER**
The Mayor and City Council (M&CC) like many other councils, relies on revenue collected from businesses and residents through rates and taxes. These revenues are used to carry out critical services such as waste management and maintenance to facilities such as markets and community bridges.
According to Guyana’s laws, properties are supposed to be reassessed every five years, thereby accounting for any major transformation that took place, while also ensuring that companies and residents are paying their fair share of taxes.
For any revaluation to be done, the Chief Valuation Officer (CVO) of the Finance Ministry must be given the permission to do so by the subject Minister. It is now 29 years since properties in the city have not been reappraised. The net effect is that the city council does not collect sufficient taxes that reflect these years of transformation within the city, ultimately leaving it cash-strapped and dependent on subventions to cover shortfalls.
