FAQ – Valuation

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.