Deadline looms for property owners to file for extensions - KUAM.com-KUAM News: On Air. Online. On Demand.

Deadline looms for property owners to file for extensions

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 by Ken Quintanilla

Guam - This Friday January 23rd, marks the deadline for property owners to apply for a property tax exemption or tax credits with the Department of Rev & Tax. DRT is completing its revaluation of real property for the entire island that would result in changes in real property taxes. Director John Camacho says there are eight categories for the real property exemptions and tax credits.

"For example, if you're 55 years old and you've been living in Guam for the last five consecutive years and you live in a house and you own the house, and you get an 80% credit so this is the reason why we're trying to get people more to come in and try to get grandfathered on the old value and not be subject to the new values," he explained.

The categories include home exemption, senior citizen tax credit, government used land and permanent disability tax credit. A preliminary roll distribution to each of the mayor's office is set to go out by February 2. For more information contact the Real Property Tax Division at 635-7667 or 1791.
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