The Land Tax Department has commenced its revaluation exercise on all parcels of land in the island to ensure their values reflect the current market trends.
This disclosure has come from the Commissioner of Land Tax, Wayne Forde, who said the year-long exercise would be completed on March 31, 2014.
Mr. Forde stated: "This exercise is statutorily required every three years and the new valuations will be in effect from April 2014 to March 2017."
Explaining the process, he continued: "Officers from the Department will collect information pertaining to the size and dimensions of the land and buildings, as well as the building and rental costs of properties.
"In addition, they will be capturing photographic images of properties during this exercise for inventory purposes."
He advised that officers engaging in the exercise would carry identification issued by the Land Tax Department which should be presented to the public on request.
Mr. Forde has urged members of the public to give the officers their full support.