Overview

The Valuation of Land Act Chapter 58:03 (the Act) which creates the office of the Commissioner of Valuations who is charged with the general administration of the Act and is responsible for making valuations of every parcel of land in Trinidad and Tobago (including buildings, plant and machinery)..

The Valuation of Land Act was amended by Act No. 17 of 2009 to empower the Commissioner of Valuations to value properties based on an annual rental value system and validated the actions of the Commissioner in the use of the annual rental value system from 1970 to 2009. Prior to the 2009 amendment, the Commissioner was only empowered to conduct valuations based on a site valuation system. The Act was subsequently amended by Acts 5 of 2018 and 21 of 2022 to inter alia create a Valuation Tribunal and for certain state agencies to furnish information to the Commissioner of Valuations.

Valuation Surveying is a unique profession that falls under the umbrella of the Built Environment. Locally, the Institute of Surveyors of Trinidad and Tobago represents the three major categories of Surveyors within the Built Environment – Land Surveyors, Quantity Surveyors and Valuation Surveyors. Currently, all members of the Professional Staff employed at the Valuation Division are members of the Institute of Surveyors of Trinidad and Tobago. The Valuation Division adheres to the international guidelines and procedures as set by the Royal Institution of Chartered Surveyors, as well as the local guidelines prescribed by the Institute of Surveyors of Trinidad and Tobago.

Role of The Commissioner of Valuations

The Commissioner of Valuations is responsible for the overall management and supervisory functions of the Valuation Division. He is required to develop strategic plans, formulate, implement and monitor policy with respect to the valuation of lands and properties in Trinidad and Tobago.

His duties involve the administration of the Valuation of Land Act, the production of a Valuation Roll and the revision of this Valuation Roll every five years. Work The Commissioner is expected to exercise considerable judgment and initiative in the planning and guidance of the work of the Division.

The scope of responsibilities of the Commissioner of Valuations includes but is not limited to advising government and quasi-government agencies on the Valuation of all classes of property (residential, commercial, industrial and agricultural) for compulsory purchase, private treaty purchase, rental purposes, property taxation, stamp duty matters, asset valuations, state land leases, estate duty matters, and negotiates values on behalf of Government and its Agencies.

The Commissioner also briefs counsel, prepares proofs of evidence, gives expert evidence in all Court matters arising out of these valuations and serves on several committees dealing with matters related to valuation, property taxation, estate management, land reclamation, state land management, local government reform and land use etc.

The Commissioner of Valuations provides impartial advice to the Government and policy-makers, as well as the public – the end user and major stake holder of our Real Estate resource. He is required to liaise with several stakeholders in the performance of his duties.

Stakeholders of the Valuation Division

Services

The Valuation Division provides the following services on behalf of the State:

• Valuation advice for the purpose of
  • Stamp Duty matters (Deed of Gift, Deed of Conveyance, Estate Duty);
  • State Land leases;
  • Property Rentals;
  • Compulsory Land Acquisition;
  • Change of Ownership;
• Development and Maintenance of the Valuation Roll.

Legislation

The mandate of the Valuation Division is provided for under the following Acts:

• The Valuation of Land Act, Chapter 58:03, (amended by Acts 17 of 2009; 5 of 2018 and 21 of 2022);
• The Property Tax Act, Chapter 76.04 (amended by 2 of 2015; and 6 of 2018; 10 of 2021);
• The Stamp Duty Act, Chapter 76:01 (last+ amended by Act No. 17 of 2020)

Additional Acts which impact upon the work conducted by the Division are:

• Real Property Act, Chapter 56:02 (last amended by Act 17 of 2020);
• Real Property Limitation Act, Chapter 56:03 (last amended by Act 17 of 2020);
• Land Tenants (Security of Tenure) Act, Chapter 59:54 (last amended 2010);
• Landlord and Tenant Act, Chapter 27: 16;
• Rent Restriction Act, Chapter 59:55 (last amended Act 11 of 2022);
• Municipal Corporations Act, Chapter 25:04 (last amended 2014);
• Town and Country Planning Act Chap. 35:01

Contact Information

Valuation Division
Ministry of Finance
Churchill Court
#19, #29, #29A Estate Trace
Barataria

Telephone: (868) 612-1715, (868) 623- 4221
Fax: (868) 623-5874
E-mail: valdiv.pos@gov.tt

Valuation Division Regions and Contact Information