The property tax assessment values are reset every 5 years and 2021 is the reset year for the whole island. The Bonaire Property tax is due annually and is 0.91% Vastgoedbelasting for vacation or rental homes with a $70,000 tax free base and 0.345% Grondbelasting for principal residences. In general, the value is fixed for the next 5 years.
If you receive an assessment notice and it is significantly more than a recent purchase price, you need to file an objection within 2 months of the date of the assessment notice. For example, if a property you bought in 2020 for $500,000 was assessed at $750,000 in the 2021-2025 cycle and you don't object you will be liable for more tax than you need to pay for the next 5 years.
Keep an eye out for that notice! They likely start mailing out VGB notices in July if they follow the pattern of the 2016 cycle. GB notices will follow shortly. Contact us if you have any questions.
New Property Tax Bills 2021
2021-06-12