While we continue to speak about the financial constraints facing this KSAMC, I want to make it clear that this administration has not simply sat back and asked for more money.

We have been actively pursuing ways to strengthen the Corporation’s own-source revenue and improve compliance. Earlier this year, the KSAMC partnered with Tax Administration Jamaica (TAJ) to strengthen compliance with property tax and trade license obligations.

The first phase of the KSAMC’s joint initiative with Tax Administration Jamaica (TAJ) was the collection and analysis of data to identify businesses and property owners with outstanding property tax and trade license obligations. The exercise has provided the Corporation with valuable intelligence on compliance gaps and potential revenue.

In Half Way Tree alone, excluding the current fiscal year, the data identified 432 properties with property tax arrears of approximately $162 million, including 151 business-related properties accounting for approximately $96 million. The data also identified approximately 1,395 businesses with estimated trade license arrears of $48million. This information has allowed the Corporation to better identify taxpayers and businesses requiring engagement and to target its revenue collection efforts more effectively.

The initiative is already yielding results. Since the engagement phase, the TAJ collected $28,090,438.50 in property taxes, $3,422,500.00 in trade license fees, and the KSAMC collected $2,615,330.00 from signs and billboards. These are resources that can help us to provide the services our residents expect and deserve.

 

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