Up-Front
Land revenues soared in 2000
Some CI$257 million worth of land changedhands in 2000, according to figures released by the Departmentof Lands and Survey. It is a 17.35 percent boost over the previousyear's value of $219 million.
As a result, total departmental revenuestipped over the $27 million mark. Director of Lands and Survey/Registrarof Lands, Mr. Clark Buchanan, said that although real estate activitydecreased, stamp duty generated $18.6 million from Grand Caymantransfers alone, representing the bulk of the department's receipts.
Recorded transfers for 2000 (including thosefor natural love and affection) stood at 1,868. That is 18.5 percentoff the 2,293 transfers for 1999. Overall for 2000, 9,517 legaldocuments were processed, a drop of 18.4 percent from the preceding12 months' total of 11,664.
The yearly stamp duty total, including $159,649from Cayman Brac, was $25.9 million. This represents a drop of12 percent, as 1999's revenues were $29.4 million.
The monthly breakdowns for the last threemonths of 2000 are:
* October - 138 transfers valued at $20 million;
* November - 125 transfers valued at $17.1 million; and
* December - 108 transfers valued at $15.2 million.