Is a concession available for property developers who subdivide land?
Yes. From 2009-10 and subject to specific criteria, developers will pay land tax and MRIT on the lower undeveloped (or ‘englobo’) value of land holdings, rather than the full subdivided value of lots, for one year after the creation of the lots. Additional information regarding this concession can be obtained from the Fact Sheet and Application Form.
Related Questions
- Does the land department decide the service charges levied by developers from property owners for amenities and common facilities provided in their residential projects?
- Does Bromley Council have any land or property for sale or available to rent?
- Is a concession available for property developers who subdivide land?
