An increase in land-holding charges that had been due to come into effect this month is facing further delays.

The increases, ranging from 5 per cent to 12.5 per cent depending on the types of property, are expected to be deferred until March 2019.

A “land-holding charge” is a charge that an applicant must pay before the Minister of Home Affairs issues a land licence to a non-Bermudian to own property. The charge is calculated as a percentage of the value of the land.

Walton Brown said the PLP was “not enthusiastic” about the delay, questioning whether Bermuda had the right tax structure.

“More needs to be done to further the economy to drum up enthusiasm,” he said.

The Bermuda Immigration and Protection [Land-Holding Charges] Regulations Amendment 2017 was passed with no objections, allowing for the deferment of the charges.

Minister of Home Affairs Patricia Gordon-Pamplin said the delay would be in effect until the economy was doing well enough to absorb the increases.