Land tax relief Bill for nursing homes to be tabled in House
Nursing and residential homes are expected to get land tax relief with legislation being tabled in the House of Assembly yesterday.
David Burt, the Premier and Minister of Finance, said that the Government committed to reducing tax burdens in the 2022-23 Budget statement.
He told MPs that the Land Valuation and Tax Amendment Bill 2022 was “another demonstration of the Government continuing to deliver on its promises”.
Mr Burt said: “Senior care and nursing homes are a critical component of our society as they provide invaluable support and services for our seniors many of which are those in need of our assistance the most.
“It is not lost on this Government the negative impact the Covid-19 pandemic has had on us all and in particular our senior care homes.
“It is therefore prudent that as a Government [we] continue to find ways to provide relief for the nursing homes to reduce some of their financial pressures to ultimately ensure that the quality of service and support for our seniors is not, in turn, compromised.”
He added: “The Bill to be tabled today aims to exclude valuation units comprising licensed residential care homes and nursing homes from the draft valuation list, and to make consequential amendments.”
The Premier said: “The Government of Bermuda has and will continue to find the difficult balance between staying within the prescribed fiscal guardrails and maintaining a socially conscious agenda.
“In this Budget session alone, we have reduced the cost of private car license fees by 10 per cent, instituted no across-the-board increase in Government fees, reduced payroll tax for workers making less than $96,000 for the third time since taking office in 2017, rejected recent requests to increase the price of fuel, and are now positioning ourselves to be able to advance land tax relief for nursing homes.”