(a) There is hereby levied on all land property in Guam a yearly tax at the rate of seven seventy-seconds percent (7/72%) of the value thereof and seven eighteenths percent (7/18%) of the value of the improvements thereon. Such tax shall be assessed and collected in the manner prescribed in this Chapter. All proceeds derived by the government under any provision of this Chapter shall be deposited in the Guam Educational Facilities Fund.

(b) In addition to the levy in Subsection (a), there is hereby levied on improvements on all land property in Guam with a value of One Million Dollars ($1,000,000) or more a yearly tax at the rate of seven eighteenths percent (7/18%) of the value thereon. Such tax shall be assessed and collected in the manner prescribed in this Chapter. All proceeds derived by the government under any provision of this Chapter shall be

COL 7/27/2023

11 Guam Code Ann. FINANCE & TAXATION
CH. 24 REAL PROPERTY TAX

deposited in the Guam Educational Facilities Fund.

SOURCE: GC § 19302. Amended by P.L. 12-052; P.L. 12-123; P.L. 23-
108:2; P.L. 29-019:X:7 (Sept. 29, 2007); P.L. 30-007:12(b) (Apr. 2, 2009), P.L. 31-196:1(b) (Mar. 28, 2012), P.L. 33-185:XIV:3 (Sept. 10, 2016), and
P.L. 34-116:3 (Aug. 24, 2018). Subsection (b) amended by P.L. 35-001:1 (March 2, 2019).

2018 NOTE: References to “”Territorial”” removed and/or altered to
“”Guam”” pursuant to 1 Guam Code Ann. § 420.