The Chamber of Industry and Commerce is expressing concerns over government’s plans to implement the property tax.

It says the timing is bad.

In a statement the Chamber says while it understands the need for the implementation of property tax, it notes with concern the financial impact it may have on people.

The Chamber wonders if the revenue generated from the property tax is a necessity, to pay for services and operations of the Local Government bodies.

The Chamber hopes it is executed in an equitable manner based on the criteria laid out for charges to be applied to properties.

The valuation of land amendment bill was passed in the parliament on Wednesday night, without opposition support.

Finance Minister Colm Imbert said, the property tax is not oppressive as being clamed by the opposition.

He questioned where else would the money come from.

However, the Chamber says the timing, is an issue as consumers have been hit by increases in the cost of living.

The Chamber further hopes that it does not deter business owners from maintaining their company’s plant and machinery as well as updating their infrastructure to industry related best practices.