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#19398 - 06/21/05 05:42 PM Re: New 15% Real Estate Transfer Tax
Gaz Cooper Offline
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#19399 - 06/21/05 06:55 PM Re: New 15% Real Estate Transfer Tax
Sir Isaac Newton Offline
Umm............

Orange Walk City

and

San Pedro/Santa Ellena are bigger than San Pedro.

Leaving the political rhetoric out - RAISE TAXES! Hell yeah! Might slow down the migration to La Isla. Hey, we may just might have to go back to "Where the Hell is Belize".


Righteous.
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#19400 - 06/21/05 11:28 PM Re: New 15% Real Estate Transfer Tax
reaper Offline
All of this tax talk brings up some interesting points. How much can it take $ wise to run a country of 250-300 thousand residents? What is the tax dollar in Belize spent on? The BDF has 4 aircraft. The fire and police service is minimal. Recreation facilities for the youth are in disrepair or non existant. Educational facilities are lacking in all areas. And in SP the brunt of hosting most of the overnight tourists is passed on with minimal help from the GOB. If an area generates most of the tax dollars, it should be rewarded by ample tax $ to keep up the infrastructure(an old argument I'm sure!). It's a sad position the good people of Belize have been placed in financially. Belize seems to be at a serious crossroad. So what is the answer...higher taxes? A new GOB? Gaz, SIN, Amanda, Lan, Chris, Djean...any plans? cool

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#19401 - 06/22/05 02:17 PM Re: New 15% Real Estate Transfer Tax
Chris Offline
SIN, no way Orange Walk or San Ignacio/Santa Elena are more populated than San Pedro. Yes, if you count the villages tens of miles away...ie, almost the whole districts. But, in terms of urban sprawl, San Pedro is wayyy more populated. In 2003 BEL informed me that we had 4000 electric meters on the island. That was 2 years ago. At the same time the GOVT census came out and said we had about 7000 souls. Now, was the govt. suggesting we have less than 2 persons per electric meter? I highly doubt it...there are apartment buildings here with one meter and 30 people living inside. Single family homes with 5 or more folk are common. I doubt our population is less than 20,000. Bear in mind that most of the population of Orange Walk and Corozal Town as well as Benque have re-located to Ambergris due to lack of employment opps. in their home towns.

You should try flying over Orange Walk Town and San Ignacio and comparing that with what you see when you fly over San Pedro. No contest.

SIN, how are YOUR taxes affected by the new rates? How are your timeshare commission taxes being affected?...My own taxes went up by 400% and that doesn't include the new round of increases that your Belize-raping friends in Belmopan are planning.

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#19402 - 06/22/05 05:28 PM Re: New 15% Real Estate Transfer Tax
Sir Isaac Newton Offline
(chuckle)

easy now bredren ... we don't need to make it personal.

I pay my fair share of taxes and THANK GOD it's about 300% less than what I would pay in the US or Canda or UK.

It's about time the taxes have been raised, to closer to where they should be. It's funny, I don't here any employees (bulk of tax base) complaining about 25% income tax on their wages. BECAUSE THEY HAVE ALWAYS PAID IT!

20k in San Pedro? - never. I did like the electric meter theory though, interesting.

OW and Cayo - urban - have a higher population, a bit more than SP and all of Ambergris Caye. Check the stats.

Well, we must like getting raped. First re-election in history and watch 2008, THREEPEAT!

Hey, if you don't like it 1) run for office or 2) move...........

Sorry dude, just an opinion, we all have em'.

SIN
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#19403 - 06/22/05 06:13 PM Re: New 15% Real Estate Transfer Tax
Amanda Syme Offline
Hi Chris

The fact of the matter is that the elected government and appointed cabinet have passed some new tax increases. Now simply because you don't like the government and players that are currently in power, and just because you might personally feel that none of the money is being utilized in a manner that you feel is appropriate, the fact remains the same. If you live here and you enjoy the life and feedoms that Belize offers you - YOU TOO MUST PAY YOUR TAXES.

If you don't like it use your power to vote and your eloquent penmanship to drum up more votes for the other political party. That is the only way that there might be a chance in changing these new rates.

No, I am not happy with the tax increases that have been imposed on the real estate industry, I also don't enjoy explaining the new rates to our clients, but do it I must.

You must love something about Belize to have survived here for so long. San Pedro isn't picture perfect and we all need to do our little bit to try and improve our home.

I am glad you discovered that moving to Mexico wasn't the answer to San Pedro's problems!

I still would rather live here than anywhere else!!

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#19404 - 06/22/05 08:45 PM Re: New 15% Real Estate Transfer Tax
Chris Offline
SIN, the govt census of Ambergris Caye is waayyy off whack. For Hurricane Mitch (1998) it is estimated that over 8000 people evacuated Ambergris Caye. And, no, the majority were not tourists...it was October, after all. One of the problems we have on Ambergris Caye is that many of the folk from other towns in Belize who live here full time for the work that is offered will go back to their home districts every few years...to vote. I would certainly agree that our voting base here on Ambergris Caye is pitiful when compared to our full-time population.

Amanda, I DO pay my taxes, I actually make the point in my earlier post. Why do you imply otherwise? By paying my taxes I'm entitled to the "freedoms that Belize offers" to express my opinion. I hope that's OK with you.

One more edit....I should make the point that I did vote for this government at the last two elections. My mistake, I'm paying for it now.

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#19405 - 06/23/05 11:42 AM Re: New 15% Real Estate Transfer Tax
Amanda Syme Offline
Chris

I did not imply that you don't pay your taxes. I simply stated that tax paying is inevitable.

Of course you have the right to express your opinions, at no time did I state that you can't. Like taxes, expressing your opinion is inevitable.

Ha, ha.... I can't believe you voted for this government - must of been sucked in by the manifesto.

I voted for this government too, so I realize we need to take the lumps with gravy.

Chris, you and I are in the same business - a highly lucrative business. As SIN has pointed out, our taxes are now in line with the income we produce. Those who make more should pay higher taxes in order to help those that are living on the poverty line.

BTW my taxes didn't increase by 400%, what do you do that I don't?

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#19406 - 06/23/05 12:17 PM Re: New 15% Real Estate Transfer Tax
Chris Offline
Amanda, Our Business tax under the old system was 4% as Real Estate Professionals. We were re-classified into Commssion Agents. We are no longer classified as "Professionals." Our Business Tax went up to 15%. Whoaa there...you're right! I'm sorry, I meant to say my taxes went up by only 375%. 400% was a gross exaggeration of the truth on my part. Seriously, I don't mind paying the tax increase, I'm just worried that the money will be stolen by the Usual Suspects (who I stupidly voted for) in Belmopan. I fear those living on the poverty line will see none of it.

I'm much more worried about the negative market effect of an increase in Property Transfer Tax which is where this thread started. Fact is, this government would get a HUGE infusion of tax dollars if they put the transfer tax DOWN to 5% for everyone. It would stimulate buying and selling like crazy. Everyone would win-win.

If/when the transfer taxes do go up to 15% anyone buying a property knows they will have to sell it for almost 20% more than the purchase price within the first year just to break even. It will depress our industry.

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#19407 - 06/23/05 03:11 PM Re: New 15% Real Estate Transfer Tax
Amanda Syme Offline
Hi Chris

I hate to be the one to provide the basic math lesson - but our taxes actually increased 275%.

Original tax 4% New tax 15%

New tax minus old tax divided by old tax equals the difference - 275% increase.

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