2018/19 Budget Communication 2018_2019 BUDGET COMMUNICATION | Page 31

better service to the private sector and citizens as well as
enhanced revenue collection.
The Real Property Tax system has long been
acknowledged to be antiquated and inadequate to its
mandate and mission. The desirable reforms identified in
recent years must be reassessed and, where appropriate, re-
initiated and pursued with purpose and determination. We
will do so as a matter of priority and ensure that the
necessary resources are dedicated to this important
challenge. Developing a modern and equitable system of
property taxation will better serve our citizens and secure the
revenues that are anticipated from the system.
Previous
estimates suggest that a properly functioning system could
readily yield significant improvements in revenues.
While the efforts to strengthen the Customs
Department and the Real Property Tax administration will
28