00:00Political leader of the Progressive Empowerment Party, Philip Alexander,
00:04says the property tax citizens are paying now is an insult to the people of Trinidad and Tobago.
00:11You see the property tax that's taking place right now? That is such an assault on decency.
00:17All of these people who are paying property tax now, lining up in the stand and ready to pay
00:21property tax, have already paid property tax on their property in the form of a stamp duty
00:26when they bought it. He explained what stamp duty is and explained his belief that government
00:33is overtaxing homeowners. Stamp duties in other countries is a lot less than what is paid in TNT.
00:42Stamp duty is a percentage of the value of the property. Every time it sells,
00:47the government gets a piece, like the casa in Agambo. It is a bigger source of revenue
00:53to the government. Literally, the cost of a stamp in foreign countries, five pounds,
00:59and the stamp is hanging and you're going away. In Trinidad, it's tens of thousands,
01:04sometimes hundreds of thousands of dollars. That's not five pounds. That's not $60.
01:08It's a lot of money. If you're going to take hundreds of thousands of dollars at the purchase
01:14of the property, how could you then come back and ask for more taxation on that same property?
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