Roger B. Minkoff, ABR, CIPS, GRI, principal tax consultant, announces the opening of the Office of the Tax Reducer, United States Virgin Islands Property Tax Reduction Service (P-TAX)™, a service of Minkoff & Associates, LLC/REALTORS®. From the time the decision for the reevaluation of all real estate assessments was ordered by the U. S. District Court, there has been an outcry regarding the inequities and errors in the reevaluation and the need for this “No Reduction-No Fee” exclusive service providing the public with expertise in appealing property tax assessments, and filing for homestead, seniors, veterans and disability exemptions. There are additional monetary reductions that can be obtained from areas of the property tax code that are not generally known or understood. Minkoff said, “(P-TAX)™ was created with the mission to ensure that property owners pay the lowest amount of property taxes required by law.”
“With this “No Reduction-No Fee” exclusive service offering win-win contingency terms property owners have nothing to lose. (P-TAX)™ expert associates assist property owners with their right to appeal assessed values, errors in assessments, inequities in evaluation and in filing for homestead, veterans, senior and disability exemptions. (P-TAX)™ is licensed by the Government of the Virgin Islands as a ‘tax consultant’ and when engaged conducts a free due diligence review of the property, reviews of the assessment records for errors and inequities and performs a thorough in-house evaluation analysis. Then (P-TAX)™ aggressively defends our findings with informal appeals, formal appeals, and if necessary in front of the Board of Tax Review and the courts against the government’s assessment. This process is time consuming. However, if there is no reduction in property taxes, you pay nothing to us for our work,” Minkoff said.
The U.S.V.I. property tax is large and growing fast. When the economy is bad and growth from other revenue sources slows, and costs increase for local governments, property taxes go up. It is the largest tax imposed by the U.S.V.I. It taxes resources missed by other taxes, such as that of non-resident second home owners.
The team of professional appraisers, real estate brokers, attorneys, former bank loan officers, V.I. government finance department enforcement officers, surveyors and title abstractors offer a wealth of experience in the field of real estate property tax protests and real estate valuation. Minkoff has over 25 years experience as a U.S.V.I. and international real estate broker and has helped property owners save money, obtain property tax reductions for errors and inequities in assessments and over assessed property taxes. In addition to saving tax dollars by reducing the assessed value on property, (P-TAX)™ can sometimes lower monthly payments. Minkoff said, “Especially because home values are dropping, this is the best time to challenge your property tax assessments!”
Minkoff, and (P-TAX)™, attribute their success to their personalized service, aggressive negotiating skills, and a sophisticated well documented approach in dealing with the taxing authorities. “We handle everything from beginning to end.” Minkoff said. “We do our homework and it shows in the tax savings that we secure.”
The National Taxpayers Union, a nonprofit group that promotes lower taxes, estimates that up to 60 percent of properties are over assessed. If you don’t know the process, challenging a property tax assessment can be arduous in terms of expertise, time, effort and expense. Many property owners continue to overpay rather than challenge the property tax assessment because they don’t want to suffer through the time, effort and expense of review and appeal, despite the fact that their chances of obtaining a lower rate are quite good.
Mr. Minkoff said, “if any of these apply, consider what (P-TAX)™ has to offer, we think that you will see the value of our free, exclusive service, guaranteeing ‘No Reduction-No Fee.’ If you believe that that the government has made an error anassessing your property (as they did in one case by an outrageous $892,000.00, and we know of numerous errors where we’ve saved our clients hundreds and thousands of dollars); that the government wants to get as much as they can; or just don’t want to deal with the government or have been unsuccessful in your own efforts, don’t have time, don’t want to or can’t make visits to the Tax Assessor’s Office, don’t know of the automatic exemptions to which you may be entitled as a matter of right, live part time in and out of the territoryor you just don’t know the property tax reduction process and you are just in need of a professional who understands the process and savings available to you to work through the process and procedures.
For a free assessment analysis, call P-TAX™ today at 774-PTAX (7829), or e-mail info@USVIP-TAX.com. The office is located at Suite 1- Medical Arts Complex in Estate Altona, St. Thomas.
