What is happening to Cayman?
First burglars are overtaking Grand Cayman and now government spending is out of control and their easy answer is to add more taxes?
The answer is not adding more taxes. The answer is to be smarter and spend less money. It is much easier to just add more taxes than it is to examine where the money is going.
Government has been spending too much money, just like the US govt. There are too many civil servants not doing enough work. Govt should first look to streamlining its workforce and departments and becoming more efficient. Adding more taxation is a dangerous thing. You will likely lose many expat part time resident home owners who presently own property. Your market for new buyers will certainly also decline as will the prices of homes. The duty to purchase properties is bad enough without adding more taxation. Be careful what you do as you can change the status of Cayman forever.