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Frequently Asked Questions

What is Land Tax? (Barbados)

This is a Government tax in Barbados. The Land tax year runs from April to March and the rate varies depending on the value of the property.

The first BDS $150,000 is 0%
The next BDS $300,000 is 0.1%
The next BDS $550,000 is 0.45%
The remaining over BDS $1,000,000 is 0.75%

What are the runnings costs of owning a property? (Barbados)

Typically, you will expect the following costs;

House Insurance: Typically BDS $4 per BDS $1,000 of replacement value

Contents Insurance: Typically BDS $250 per year for BDS $30,000 worth of coverage

Land Tax: See the FAQ relating to Land Tax for figures

Utilities: Varies depending on usage (power, water, phone, internet, TV, air-conditioning etc.)

Management Costs: Varies depending on facilities (cleaners, communal gardens, pool, lift, reception, on-site security, gates, club house, gym etc.)

Rental Commission: Typically around 20% but varies depending on rental income, winter/summer rates and whether full service or partial