Once property tax is reintroduced, regional corporations can expect to receive substantial revenue to serve their burgesses at the local government level.

Speaking in the House of Representatives on Wednesday, Finance Minister Colm Imbert estimated the Couva/Tabaquite/Talparo Corporation can receive as much as $44 million from property tax, while the Penal/Debe corporation is projected to earn up to $35 million a year.

For Chaguanas and Tunapuna, the amount earned from property tax could be as high as $52 and $67 million respectively, the Minister said.

A bill to upgrade Diego Martin and Siparia from regional corporation to borough status was passed in the House of Representatives last evening.

It comes as government prepares for Local government elections, for which Prime Minister Dr. Keith Rowley says a date will be announced within the next 90 days.