Justice Minister Owen Bonnici claimed on Net TV that if one enters into a promise of sale for a property for a certain value 10 years ago and the contract is then concluded 10 years later, it is “obvious” that you pay the amount on the promise of sale.
I have had two instances of property purchase based on published values – not negotiated ones. In each instance, the government sent an architect to establish the market value of the property when the contract was concluded. In each case, I was asked to pay extra duty and a penalty because the property had a higher value based on the finishes which were paid for outside the contract.
I challenge the minister to now declare that all such discretionary ‘revaluations’ be declared null and void and for the extra duty, taken from those of us who declared full purchase value based on the promise of sale, be refunded with interest.
What’s good for the Labour Party is good for us citizens. Isn’t it?