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STAMP DUTY RATES

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TURKS AND CAICOS REAL ESTATE

Please be aware of the stamp duties on Turks and Caicos Real Estate.

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When purchasing property in Turks and Caicos an additional cost to be aware of is Stamp Duty. As there are no property taxes in the island community, government tax is collected at the time of purchase. Stamp Duty isn’t necessarily a small cost, but when factoring in what property tax would have cost over the years, it is a very fair trade-off, especially if you intend to keep your property for an extended period of time.

Stamp Duty can fluctuate depending on the current economic state, with dips in tax costs during times of recession to motivate buyers to purchase. The current tax rates in Providenciales are as follows:

Providenciales, West Caicos and Parrot, Pine and Ambergris Cay

 

6.5% = between $25k and $250k

8% = between $250k and $500k

10% = over $500k

 

 

North, Middle & South Caicos and Grand Turk & Salt Cay

 

5% = between $25k and $100k

6.5% = over $100k

Please Note: Stamp Duty is paid only on the purchase amount less the Chattels

 

These numbers may be lower on other islands in the Turks and Caicos community. As Stamp Duty is an upfront cost buyers need to include this amount when considering their purchasing budget.

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