Land Valuation Department is celebrating a milestone this year - our Golden Anniversary!
In recognition of fifty years in operation, here’s some interesting and lesser known facts about us.
◈ The Parish Vestries were initially responsible for collecting property taxes in Bermuda dating back to the 1800’s. This responsibility was centralized in 1967 with the creation of the Land Valuation Office.
◈ In 1983, the Land Valuation Office became an independent department and was designated the Land Valuation Department, no longer forming part of the Planning Department.
◈ In 1967, there were 17,400 valuation units in the Valuation List. Today, this number has more than doubled, with approximately 36,000 units in the Valuation List.
◈ We conducted our 9th successful Island wide revaluation in 2015 and received a record low of thirty objections to the Draft Valuation List (less than 1% of all the valuation units).
◈ As the Government’s property valuation experts and advisers, we are celebrating fifty years of fair and equitable valuations and helping the Bermuda community of people and businesses pay the right property taxes. Our customers trust us to get it right and have confidence in our valuations and our expertise.
◈ We provide valuations which underpin $63.2m in land taxation revenue and approximately $6m in stamp duty and Immigration license fees. Yet the Department has the second smallest budget in the whole of Government, comprising less than $800,000.
◈ We operate in an increasingly digital world, where 100% of businesses and 92% of households in Bermuda have access to the internet. Our customers expect to be able to access our services online, at a time that suits them. Our website provides access to the Valuation List at any time of the day or night and averages five million hits per year.
◈ 'We value Bermuda' which aptly encapsulates our seven core values:
Integrity Accountability Accuracy Teamwork Competence Customer Focus Innovation