Recently, government officials have alarmed second-home owners by suggesting that they be closer regulated because unlike hotels they pay no direct taxes.
David Ralph of the Abaconian argues that far from hobbling the second home market, policy makers should encourage its development particularly in the southern islands.
According to his research, Abaco has a population of 13,000 with four commercial banks in Marsh Harbour. He states that Abaco’s 13,000 inhabitants by themselves do not generate enough business to support four banks.
Arguing that the second-home market developed “incrementally without large infusions of money from either government or big investors”, Mr. Ralph said
By C. E. Huggins, Nassau Guardian Senior Writer
