As of December 2015, the new 2015 Draft Valuation List of the assessed annual rental values of all properties is available for review at all post offices across Bermuda, at the Land Valuation Department offices, and through the Land Valuation online search facility.
Finding your assessment number and new annual rental value
Your assessment number is your property’s unique reference number. If you don’t know your assessment number:
- Visit the Land Valuation online search facility.
- Choose your parish from the Select your Parish drop-down box.
- Choose your street name from the Select your Road drop-down box.
- Enter your street number (or leave Step 3 blank and click Search).
Your assessment number appears in the second column and your annual rental value in the third column. If you need information on assessment numbers and annual rental values, please contact the Department of Land Valuation directly.
How Annual Rental Value is calculated for residential properties
The Land Valuation Department inspects properties around Bermuda, taking photos and measurements to establish the annual rental value.
The Land Valuation Department uses to following factors to calculate annual rental values, carry out revaluations, and ensure fairness and equity between assessments:
- Location: the geographical location also reflects views and typical lot size for the neighbourhood.
- Property type: house, apartment, or condominium.
- Size of living accommodation: measured by using the gross external area of the property.
- Size of any ancillary accommodation: includes spaces such as porches, covered verandas, garages, which are also measured by gross external area.
- Amenities: such as swimming pools, docks, tennis courts, etc.
- Characteristics: anything that could affect rental value (e.g. adjacent to a sewage treatment plant). These vary by individual unit.
Familiarize yourself with the terms and definitions used by the Land Valuation Department in assessing properties in Bermuda and the rationale for residential valuation methodology.
Residential ancillary areas and amenities
Ancillary areas are those parts of a residential property which are not living accommodation, but do add some value i.e. parts of the house which do not form part of the main dwelling directly.
View a list of all types of ancillary areas which are taken into account by the department in the calculation of a residential ARV.
How Annual Rental Value is calculated for Commercial properties
Commercial properties are valued in a similar way to residential properties. The annual rental value is chiefly determined by an inspection of the property, which takes into account the size and use of all spaces.
If a property becomes uninhabitable for any reason, you can apply in writing for a Section 68 Request to the Land Valuation Department. A case will be created and a member of staff will need internal access to the property in order to ascertain why the property is uninhabitable and the severity of any building defects. If a property meets the requirements, then the unit affected will be granted an annual rental value of $0, which will in turn negate the property’s land tax for the period that the property is uninhabitable.
Objections to your annual rental value
You can make an objection to your annual rental value following either service of a proposal to amend the Valuation List or following the deposit of a Draft Valuation List. All objections must be in writing on the Notice of Objection Form. Objections to the 2015 Draft Valuation List are due in writing by 30 June, 2016.