Property Tax Exempt / Freeport / GBPA Bonded Area

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Because the Bahamas Government wants to encourage condo-hotels, many Bahamas developments, one example being parts of The Reef at Atlantis, currently have NO PROPERTY TAXES as we know them.

In addition, THE BAHAMAS GOVERNMENT MAY BE ABLE TO GIVE YOU A 100% PROPERTY TAX EXEMPTION IF YOUR BAHAMAS HOME OR CONDO IS FOR YOUR PERSONAL USE AND IS ASSESSED FOR LESS THAN $250,000, no matter where it's located within this entire island archipelago.  There are even provisions to keep this exemption even if you decide to rent the property out. This may change in the future- but this massive benefit to you pretty darn popular with locals and expats too.

And if that weren't enough, the Bahamas Government has extended the "No Property Tax" provisions of the Hawksbill Creek Agreement, and deemed the "Bonded Area" to continue to be governed under the subsovereignty of the private Grand Bahama Port Authority.

You read it right: Within the bonded area of Grand Bahama, including of course all of Freeport, there is, generally speaking, Lord willin' and the creek don't rise, NO PROPERTY TAX now and far into the future.

CONSULT A BAHAMAS-LICENSED ATTORNEY OR BAHAMAS-LICENSED REALTOR TO DETERMINE HOW MUCH THESE PROPERTY TAX EXEMPTIONS APPLY, IF THEY APPLY AT ALL, TO YOU AND YOUR EXISTING OR PROPOSED BAHAMAS REAL PROPERTY.