Valuation Unit – Frequently Asked Questions
1. How is the estimate of the current value of a land calculated?
When computing the estimate of the current value of a land (i.e. lots, parcels, etc), the Valuation Unit takes into consideration the following factors:- Size of the land
- Location of the property
- Land use (residential, commercial, agricultural, etc)
- Developed or undeveloped land
- Developed- Type of construction and age of building
2. How is Land Tax calculated?
Land tax is calculated at 1% of the unimproved market value as derived from the Land Tax (Fourth Schedule) which ascribes categories and value for parcels based on location and size. (see the table below)
| Categories | Districts and unimproved per acre value | ||||
| Agricultural | Corozal and Orange Walk | Cayo | Belize | Stann Creek | Toledo |
| 30 acres or less | BZ$100.00 | BZ$100.00 | BZ$100.00 | BZ$100.00 | BZ$50.00 |
| 31 acres to 100 acres | BZ$500.00 | BZ$550.00 | BZ$600.00 | BZ$500.00 | BZ$100.00 |
| 101 acres to 200 acres | BZ$400.00 | BZ$450.00 | BZ$500.00 | BZ$400.00 | BZ$75.00 |
| 201 acres to 300 acres | BZ$350.00 | BZ$300.00 | BZ$400.00 | BZ$350.00 | BZ$50.00 |
| 301 acres and above | BZ$200.00 | BZ$150.00 | BZ$300.00 | BZ$200.00 | BZ$50.00 |
| Suburban | BZ$1,000.00 | BZ$1,000.00 | BZ$1,500.00 | BZ$700.00 | BZ$500.00 |
| Beaches and Cayes | BZ$10,000.00 | ———- | BZ$10,000.00 | BZ$10,000.00 | BZ$5,000.00 |
| Village Lot (1 acre or less) | BZ$1,000.00 | BZ$1,000.00 | BZ$1,000.00 | BZ$1,000.00 | BZ$500.00 |
3. How is the value of a parcel calculated?
The value of a parcel is the result of computing the rate per square yard or per acre for the location and in the case of a parcel with a structure, the construction cost per square feet for the floor area of the structure.