Vastgoedbelsting is a tax levied on proceeds from immovable properties in Caribbean Netherlands. The tax is levied on those enjoying the proceeds. This can be the owner, but also a commercial beneficiary, such as a leaseholder. This tax, together with the revenue tax, has replaced the profit tax for non-natural persons (such as companies and foundations).
Vastgoedbelasting is a lump-sum levy. This means that the levy is not based on the actual (rental) income, but that the proceeds are determined to be a default percentage of the value of the object. Imagine that you receive rental income from a property you are letting. The taxes will not be calculated based on the rent you actually receive, but on a fictitious income of 4% of the value of the immovable property.
Certain objects, including the home occupied by the owner himself, are exempt from property tax. You can learn more about this in the ‘ exemptions’.