You can request a formal valuation from the National Land Agency (NLA) or hire a certified private valuer to do it for you. You could also check the selling prices of similar properties in your area to get a general idea. Just remember — only an official valuation is legally recognised.
The Notice of Valuation tells you the value assigned to your property for tax purposes. The Assessment Notice is the one that shows the actual amount of property tax you have to pay.
This is the process the NLA uses to put values on many properties at once. It’s based on statistics and market trends, but it might not account for unique features that make your property different.
Property tax is mostly based on the value of the land. That said, if your house is large and modern, it can make the land appear more valuable, which can raise your valuation.
It depends on factors like location, size, condition, and demand in the market. A certified valuation gives the most accurate figure, but you can still estimate by comparing recent sales of similar properties nearby.
Yes. In rural areas or places where water and electricity supply can be an issue, these features are seen as practical and money-saving — which can make them more attractive than an extra bathroom.
Equity is your home’s current value minus what you still owe on your mortgage. When prices go up and your loan amount goes down, your equity increases.
Yes. A modern kitchen and a rental unit can push up your selling price and make your home more appealing to buyers.
Things like the quality of the roads, new projects in the area, and interest from overseas buyers can all influence property values.
Most valuers charge between 0.25% and 0.30% of your property’s value. For example, if your home is worth J$10 million, expect to pay between J$25,000 and J$30,000.
Sales Comparison looks at what similar properties sold for, Income estimates value based on rental potential, and Cost works out what it would cost to rebuild the property minus depreciation.
To prepare for a land valuation, you need to have your land title, survey diagram, and building plans ready. Make sure the property is easy to get into so the valuer can inspect and measure everything.
If it’s undervalued, you could lose money when selling. If it’s overvalued, buyers might walk away or you could run into loan approval issues.
Get quotes from several valuers, and check with the Real Estate Board of Jamaica to confirm they are licensed. You can view a list of approved valuers from financial institutions. on our website.
Look at at least three to five recent sales of similar properties to get a solid estimate.
They all matter. Location and recent sales in the area usually weigh the most, but design, materials, and how the home looks from the street can also shift the value.
Most valuers charge 0.25% to 0.3% of your property’s value. This fee covers the inspection, research, and the written report.
A professional valuation is more accurate and recognised by banks. A DIY Comparative Market Analysis is fine for a rough idea, but it won’t hold up for official purposes.
Size, location, and amenities like water tanks or security systems can boost value, especially in areas where buyers have a lot of choice.
The NLA can give you official sale records. You can also check Jamaican real estate websites to see listings and recent sales for comparison.
