Government plans to overhaul the process for valuing properties for land tax purposes.

This has been disclosed by Minister in the Ministry of Finance, Ryan Straughn, in an address at the Caribbean Valuation and Construction Conference being held at the Barbados Hilton.

The plan is to standardize how properties are valued.

And it may mean that land lax values will be closer to what the property is worth on the open market.

New land valuation laws are to be drafted.

Minister in the Ministry Of Finance, Economic Affairs And Investment, Ryan Straughn