just three weeks after they were announced.

And they are primarily mid-range residential owners, according to Land Valuation Officer Chris Farrow.

He said while his department has received hundreds of calls, all but 27 decided not to object so far.

"Most taxpayers who are concerned about their new assessment have called this department before putting in an objection,'' he said.

"Once we have explained that the new ARV merely reflects the current rental value of the property, the vast majority agree that their new ARV is fair and have decided against objecting.

"Should they feel that the new ARV is in excess of what they can realistically rent the unit for and it is not in line with similar properties in the area, then they may put in an objection.

"The property (of each objector) will be reinspected and the assessment reviewed after all the facts have been taken into account.'' And taxpayers still in disagreement about the assessment will have the opportunity to present their case before the Land Valuation Appeal Tribunal.

"The mid- to high-end residential properties are seeing tax increases whilst the majority of residential properties are getting reductions in their land tax,'' Mr. Farrow said.

"Naturally, they wish to object to the tax increase, but they may only object against their new ARV to this department.'' Homeowners who cannot cope with the tax increase may appeal to the Tax Commissioner for relief. In cases of undue financial hardship, the commissioner can authorise total or partial exemption from payment.

And Mr. Farrow said senior citizens who are unable to pay should contact the Tax Commissioner to see if they are entitled to relief.

The new valuation list is the first to be released in ten years and comes after 18 months of inspections by the Land Valuation Department.

The list came into effect on July 1 and owners will be able to object to their ARV until December 27.

ARVs and tax rates are available at the Land Tax Office in Global House, post offices island-wide and online at http://www.landvaluation.bm.

Objection forms are also available from the Land Tax Office.