Property inventory and valuation update to begin in New Amsterdam

– valuation to begin in New Amsterdam, Berbice

– last national valuation was done more than two decades ago

– reliable and real-time data to be available to all local organs

– project vital to the development of Guyana 

DPI, Guyana, Monday, October 1, 2018

The Ministry of Communities today signed a $335M project with the Municipal Assessments Canada (MPAC) and Axilogic Inc., to update the property inventory and valuation systems across local democratic organs in Guyana. The project will be piloted in New Amsterdam, Berbice beginning October 2 and is expected to be completed towards the end of 2019.

The signing of the contract, which took place at the ministry’s boardroom in Kingston, will see the introduction of new technology and capacity building to support the sustainable implementation of modernised property inventory and valuation.

Minister of Communities, Ronald Bulkan said the project will allow for central government’s support to the restoration of capacity and functionality within local government organs since over time the revenue base of many councils has been questioned.

He added that the project is long overdue, as the last national valuation was done more than two decades ago. Minister Bulkan explained that many councils are challenged due to inadequate information on the total number of properties and their values.

“There are cases where the rates of modest residential properties are at the same level of highly priced properties, and it poses as a severe impediment to councils to be able to have an equitable weighting regime. Of course, it impacts seriously on council’s ability to garner sufficient revenue,” Minister Bulkan said.

Against this backdrop, the minister said the Cabinet approved the engagement with the Canadian companies.

Canadian High Commissioner, Liliann Chatterjee, who witnessed the signing, described the project as vital to the development of Guyana. “When you set the right evaluation in terms of garnering the right revenue generation, it also equips local councils to provide adequate services for their communities.”

Co-Founder and President of AxiLogic Inc., Michael Chettleburgh shared his company’s intention to work closely with Guyanese, in educating them on the new technology and processes to create a centre of excellence in property evaluation.

“When Guyana has a full and complete inventory of its properties whether its residential, commercial or special purpose and those are properly valued it will really allow Guyana to better unlock the value inherent in your land which is very rich.”

MPAC Representative, Antoni Wisniowski committed to ensuring an adequate job is done on the project during the 12 months duration.

Subsequently, public awareness sessions will be done to educate taxpayers and property owners on property valuation and what to expect from valuation offices. 

Crystal Stoll.

Images: Keno George.

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