However, the rebate is limited and is not related to the principal amounts owed. The Inland Revenue Department said it is offering a December Tax Payment Incentive to persons in arrears for Property Tax.

Persons who pay all outstanding balances or make arrangements to settle property tax arrears in full before December 31, 2011 will be granted 100 percent relief on all accumulated interest to date.

Individuals with outstanding balances are encouraged to take advantage of this opportunity. Additional information is available at telephone 467-1210, 467-1084 or 465-2521 ext 1210 or 1084.

The government, which is currently under strict IMF guided and monitored austerity measures, is seeking to generate as much revenue as possible, through greater efficiency in tax collection, to help meet its obligations for revenue targets over certain periods.