FAQs – Valuations

Under the Laws of Barbados, the Registrar of Titles is authorized to request a valuation from the Commissioner of Valuations (now the Revenue Commissioner at the Barbados Revenue Authority) under certain conditions.

Section 9 of the Property Transfer Tax Act states that the request for a valuation should be made where there is no money consideration for a transfer or where the Registrar is not satisfied that the consideration for the transfer represents the fair market value.  Usually a valuation is requested when Deeds of Gift are presented for recording or there has been a subdivision of a parcel and the land tax bill produced is for the larger piece of land. Additionally, a valuation may be requested in circumstances where the land tax bill produced does not have an improved value, but the document presented to the Land Registry relates to a dwelling house located on the parcel. In a circumstance where an attorney has presented a document to a Registrar for its assessment of fees and the Registrar has determined that a valuation is required, the attorney is directed to provide all relevant information under a cover letter addressed to the Registrar for onward submission to the Barbados Revenue Authority.