Belize City Property Taxes Get First Update in 13 Years

It’s that familiar time of year again in Belize City, property tax season, but this year, there’s a change homeowners haven’t seen in more than a decade. After thirteen years without an adjustment, City Hall says the old tax system is no longer sustainable. A valuation model that’s been in use since 2013 is finally being revised, and beginning in 2026, homeowners can expect an eighteen percent increase in property taxes. But officials insist the number could have been far worse. Valuation Manager Troy Smith says rising service demands and current market values have made it impossible to keep kicking the can down the road. Still, he explains the council worked to strike a balance, scaling the increase back from what could have been nearly fifty percent. And with an incentive discount applied, many homeowners may ultimately feel only a modest change to their yearly bill.

 

Troy Smith, Valuation Manager, Belize City Council

“We can’t roll it back because the demand for service is tremendously high, and we are not, again, what we did for the past months, we’re doing a feasibility study. We look at the market, versus the variants, and it was a serious task… how do we do this? Because, if we use proper rental value now and market value now, it will be nearly forty-eight to fifty percent adjustment in taxes, and the council said, no, no. And so, we have to look at the budgeted projections, versus what we can actually receive. So we decided to do an overall assessment and we came up with a value of eighteen percent for occupied [properties] which is minimal. So, if you have a property and you’re paying $120, you might end up paying $148. Nothing much. Out of that, we will give a fifteen percent incentive discount. So, we have put on eighteen percent on your tax, then give you fifteen percent back. So, it’s only three percent.”

 

City Hall says the change is about keeping services running, not overburdening homeowners. Officials point out that while the adjustment is set at eighteen percent, the built‑in incentive discount brings the real impact down to about three percent for those who pay on time. The new rates are expected to take effect in 2026.