This Act amends the Real Property Tax Act by adding a new section 19A on the liability of a mortgagee in respect of commercial property: Where a tax or surcharge in respect of property used for commercial purposes, and mortgaged under a deed of mortgage executed before or after the coming into operation of this section, remains unpaid for a period in excess of ninety days the m01tgagee of the commercial property shall pay all taxes or surcharges owed in respect of the property.
Amends: Real Property Tax Act (Cap. 375). (2009)
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Lucayan Indians inhabited the islands when Christopher COLUMBUS first set foot in the New World on San Salvador in 1492. British settlement of the islands began in 1647; the islands became a colony in 1783. Since attaining independence from the UK in 1973, The Bahamas has prospered through tourism, international banking, and investment management. Because of its location, the country is a major transshipment point for illegal drugs, particularly shipments to the US and Europe, and its territory is used for smuggling illegal migrants into the US.
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