- For 2013/14, KSAC collected 95 per cent of the target...falling short by about $81.25 million.
- The Mayor noted that the figure represents an increase when compared to the corresponding period in 2012/13.
- The Mayor lamented, however, that overall compliance, which is at 60 per cent, is “still too low”.
The Kingston and St. Andrew Corporation (KSAC) is reporting that $1.56 billion in property tax was collected during the last fiscal year.
“For 2013/14 we collected 95 per cent of the target…falling short by about $81.25 million. Kingston contributed seven per cent to the overall collection and St. Andrew contributed 88 per cent. The target, of course, was $1.64 billion,” Mayor of Kingston, Senator Councillor Angela Brown Burke, said.
She was addressing the monthly meeting of the KSAC, at its Church Street offices, in downtown Kingston, on April 8.
The Mayor noted that the figure represents an increase when compared to the corresponding period in 2012/13, adding that this was due, in part, to an increase in property tax rates.
“Persons know that when you have an increase in property tax rates, you expect in the short term, a decrease in compliance. And so what we have been trying to do, is to work against that trend to make sure that we achieve. So, where we are now, it would represent 79.5 per cent (of collection target) for Kingston and 96.6 per cent for St. Andrew,” she said.
The Mayor lamented, however, that overall compliance, which is at 60 per cent, is “still too low” and encouraged persons to pay their property taxes.
“We have to find a way to increase that and do something about that this year. But we have to acknowledge the progress and strides we have made for this year,” she added.
In the meantime, Senator Brown Burke said $394.67 million was collected in own source revenue during the last fiscal year, which represented 94 per cent of the budgeted figure of $418.93 million.
The Mayor also pointed out that the KSAC is continuously working to reduce its debt of $25.6 million.
She noted that increasing the flow of cash into the Municipality is crucial to the continued development of the Corporate Area, adding that several strategies have been implemented towards this undertaking.