Property Tax on Developed vs. Undeveloped Land in The Bahamas
How Property Taxes are Calculated in 2026
Owner-Occupied Property
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First $300,000 of property value: Exempt from taxes.
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Next $200,000 of property value: Taxed at 0.625% of the value within this range.
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Above $500,000 of property value (remaining balance): Taxed at 1% of the remaining part of the value. ($150,000 annually cap)
Updated Owner-Occupied Requirements
Recent legislative amendments introduced additional residency requirements for owner-occupied properties. To qualify as “owner-occupied,” an individual must reside in the home for at least 90 days per year. To qualify for the annual property tax cap — now $150,000 — the owner must reside in the property for at least 183 days per year.
Commercial Properties / Any Other Property that is Not Considered Owner-Occupied
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On the part of the value that does not exceed $500,000 – 0.75%.
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On the part of the value that exceeds $500,000 and does not exceed $2 million - 1%.
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On the part of the value that exceeds $2 million – 1.5%.
Vacant Land for Foreign Owners
- First $7,000 of property value: A flat fee of $100 is applied.
- On the part of the value that exceeds $7,000 and does not exceed $75,000 - 1.5%
- On the part of the value that exceeds $75,000 and does not exceed $500,000 - 0.75%
- On the part of the value that exceeds $500,000 - 2%
Recent Updates to Property Tax Relief
The government has also announced additional property tax relief measures aimed at supporting homeowners. These include expanded concessions for certain owner-occupied duplexes and triplexes, as well as new relief initiatives designed to assist first-time homeowners. While full details of these measures are still being finalized, they signal the government’s ongoing efforts to adjust the real property tax system and provide additional support for residential property owners in The Bahamas.
When is Property Tax Due in The Bahamas?
How to Check Your Property Tax Assessment Number
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On Official Documents: Your property's assessment number is typically included on your previous year's property tax bill or assessment certificate.
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Contact the Department of Inland Revenue (DIR): If you can’t locate these documents, you can contact the Department of Inland Revenue (DIR) for assistance in retrieving your assessment number. email propertytaxenquiries@bahamas.
Why the Assessment Number is Important
Paying Property Tax Online
Step 1: Visit the DIR Website
Step 2: Log in or Create an Account
Step 3: Enter Your Assessment Number
Step 4: Review Your Tax Details
Step 5: Submit Your Payment
Benefits of Paying Early
- Discounts on Tax Payments: Save money by taking advantage of the early payment discount available before March 31st.
- Avoid Penalties: Late payments can lead to penalties, interest accumulation, and even legal implications.
- Peace of Mind: Settle your tax obligations early to avoid the last-minute rush and unnecessary stress.
Importance of Staying Up to Date on Policy Changes
Final Thoughts
FAQ: Paying Property Tax in The Bahamas
When is property tax due in The Bahamas?
Property tax bills are typically issued annually and should be paid by December 31. Paying before March 31 may qualify for a 10% early payment discount.
How do you pay property tax in The Bahamas?
Property owners can pay through the Department of Inland Revenue online portal, by bank transfer, or in person at Inland Revenue offices.
Do foreigners pay property tax in The Bahamas?
Yes. Foreign property owners are subject to the same real property tax system as Bahamian owners.
Is there property tax on owner-occupied homes?
Yes, but the first $300,000 of market value is exempt.
