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Topic starter
Proposed changes include:
1. Stamp tax paid on market price vs actual sale price.
(Guess who sets "market value?")
2. Commercial property rates will apply to any property paying room tax.
3. Renting an apt., short term, will result in entire property being charged the commercial rate.
4. A word change from "shall" to "may" does away with the legal requirement of Tax Assessors Office to adhere to follow any standards, including the use of ratio studies to confirm mass appraisal studies that actually produce reliable valuations as it pertains to IAAO standards.
Other sections of proposed legislation to transfer burden of proof in Tax Board Review to taxpayers, increase time limits on review from 4 to 6 months, institutes penalties for commercial property owners to accurately report information on assessment schedules for commercial properties, limits exemptions to only 2 per taxpayer and numerous other changes.
Buckle up or voice your objections.
Posted : February 22, 2017 5:44 pm
More like "Unbuckle & Bend Over"
Posted : February 23, 2017 12:28 am
I watched most of the STX hearing today -- there are not many Senators on the side of the people of the USVI!
Posted : February 23, 2017 11:48 pm
The senators are on the side for themselves, nothing more.
Posted : February 24, 2017 5:39 pm
We have not rented our condo to anyone and have no intention of ever renting it.
Jumbie
Posted : February 24, 2017 11:42 pm
Topic starter
This keeps up, you'll probably have to prove you've never done so.
Posted : February 24, 2017 11:43 pm
