WILLEMSTAD - According to the Association of Real Estate Agents and Property Taxation in Curaçao (AVMT), an alarming 95 percent of property tax assessments (OZB) on the island are inaccurate.
Roberto Salas, secretary of AVMT, emphasizes that appraisers should base their evaluations on actual values rather than assumptions. He highlights a lack of ethics among many appraisers, which undermines the quality of their work.
Salas also references a ruling from the Dutch Supreme Court regarding the "Fierensmarge," which dictates that tax assessments must be exact, allowing for no deviations of 5 percent. This guideline is equally applicable to Curaçao, where tax assessments are also required to be precise.
In light of these issues, Salas urges property owners to file objections against incorrect assessments to ensure they are not overpaying taxes. The AVMT’s advocacy underscores the need for greater accuracy and accountability in the property taxation process on the island.