Senators passed legislation last night aimed at reducing land tax and ending payroll tax on redundancy payments.

Crystal Caesar, the Minister of Education, said the Land Tax Amendment Act 2025, approved by the House of Assembly on Friday would halve the base land tax from $300 to $150 effective January 1, 2026.

The Senate heard that the measure was intended to help ease economic pressures on landowners and tenants.

Ms Caesar said: “We hear the cries of our people who are finding it difficult to navigate our economic landscape and offer assistance as we can.

“This reduction will assist homeowners and renters.”

Marcus Jones, the Opposition Leader in the Senate, said the One Bermuda Alliance supported the change, stating it was important to offer relief to the public in the face of the high cost of living.

The Senate subsequently passed the Payroll Tax Amendment Act 2025, which exempts the employee portion of payroll tax on remuneration given in connection with the permanent termination of employment.

Ms Caesar said the amendment is intended to help workers experiencing the uncertainty that comes with the loss of a job.

Mr Jones said the OBA had no objections to the amendments, stating: “This is an example of a targeted tax break that makes sense, so we support it.”