The T&T Chamber of Industry and Commerce is concerned by the timing of the property tax implementation.
On Wednesday, a bill was passed in the lower house, green lighting the tax to go ahead.
The Chamber says while it understands the need for the tax, it notes the financial impact it may have on citizens at this time.
It hopes the tax is executed in an equitable manner based on the criteria laid out for charges to be applied to properties.
The Chamber also hopes it does not deter business owners from maintaining their plant and machinery or infrastructure.