Valuation of Land Act (Cap. 58:03). | Land Portal

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This Act provides for the appointment of the Commissioner of Valuations and the valuation of agricultural and other land. The Commissioner shall make a valuation of the: (a) site value and improved value; or (b) capital value and annual rental value, of every parcel of land or any part thereof. Fresh valuation in respect of land shall commence as near as may be to five years from the date of the last valuation of the land as recorded in the Valuation Roll. unless the Commissioner otherwise directs, there shall be included in one valuation adjoining parcels of land that are owned by the same person and are occupied by one and the same person.

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First colonized by the Spanish, the islands came under British control in the early 19th century. The islands' sugar industry was hurt by the emancipation of the slaves in 1834. Manpower was replaced with the importation of contract laborers from India between 1845 and 1917, which boosted sugar production as well as the cocoa industry. The discovery of oil on Trinidad in 1910 added another important export. Independence was attained in 1962. The country is one of the most prosperous in the Caribbean thanks largely to petroleum and natural gas production and processing.

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