An error in calculating land tax bills has affected 25 807 residential properties valued at over $450 000, Minister of Finance Ryan Straughn announced on Monday.

He explained that the affected bills did not fully reflect the updated residential tax bands after the tax-free threshold for residential property was raised from $300 000 to $400 000.

“25 807 residential properties were impacted by the overcalculation, and therefore those persons now will be the beneficiaries of paying a little less tax this year, and they were given the opportunity to be able to determine what they do.”