The Division of Real Property Tax will soon issue the 2013 V.I. real property tax bills, according to Government House. The 2014 bills are expected later in the year as well, which will bring property tax collections up to date for the first time in more than a decade.
Property tax collections were postponed for a number of years due to a lawsuit filed in 2000 contesting the way properties were valued. That case was settled in January 2011, paving the way for multiple billings.
The 2009 tax bills were issued in February of 2012 and the 2010 bills in July of that year, each for roughly $50 million. The Tax Assessor’s Office issued 2011 and 2012 bills in 2013.
Members of the administration’s financial team have said on several occasions this year that the 2013 and 2014 bills are to be issued this year.
The 2013 bills are the responsibility of all property owners of record as of Jan. 1, 2013. The Tax Assessor’s office is advising owners to review their bills carefully, as they are based on new property values which reflect the result of recent assessments, or revaluations, that were conducted by the Tax Assessor’s Office.
According to Tax Assessor Ira Mills, property owners should not assume that their bills will automatically increase because of the revaluations.
“Some property owners will see an increase in their property tax bills while some will see a decrease,” Mills said in a statement which encouraged property owners to take advantage of the early payment discount period, which will be offered for 30 days after the bills are issued.
There are several factors that affect each taxpayer’s property tax bill, which are market value, the tax rate and statutory exemptions. Exemptions, or credits, are available in the following categories: General Homestead, Veterans, Seniors, Disabled, Class 1 Inheritance, Visitable Home and Tax Credit Circuit Breaker. Although taxpayers can no longer apply for credits against the 2013 or 2014 bills, they can do so in advance of the 2015 bills.
The tax rates for the 2013 property bills are:
- 004946 or 0.4946 percent of market value for unimproved non-commercial real property;
- 003770 or 0.377 percent of market value for residential real property;
- 007110 or 0.711 percent of market value for commercial real property;
- 014070 or 1.407 percent of timeshare real property.
As in the past, the 2013 bill will also include information on unpaid tax years. Property owners who owe for prior years should contact the Tax Collector’s Office to make arrangements for payment. Payments for all past due years can be made at the following locations:
- St. John: Islandia Building
- St. Thomas: Builders Emporium
- St. Croix: 1105 King Street (Government House, Christiansted)
- 1131 King Street, Suite #101 (Christiansted)
- 4008 Est. Diamond (Dept. of Finance, Sunny Isles)
- Lagoon Street Commercial Building No. 1 (Frederiksted)
The Tax Collector’s Office accepts checks, cash, money orders, credit cards (Visa and MasterCard only), ATM and debit cards.
Questions regarding delinquencies should be addressed to the Tax Collector’s office at (340) 776-8505 on St. Thomas, 776-6737 on St. John, 773-1105 in Christiansted or 772-0120 at the Frederiksted Office.
