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Lieutenant Governor Osbert E. Potter reminds Virgin Islands property owners who have not previously applied for property tax credits, that applications are available to file for property tax credits against their 2017 property tax bills. Property owners of record can apply for the tax credits until Friday, February 24, 2017. Applications for the tax credits can be found online at www.ltg.gov.vi and at the Office of the Lieutenant Governor, Tax Assessor Offices on St. Thomas, St. John, or St. Croix.
In order to be eligible for homestead credits against the 2017 property tax bills, a person must be the property owner of record as of January 2, 2016 through January 1, 2017 for the 2017 tax year. Property owners may not apply for more than two credits – homestead and any one of the other categories for which they may be eligible.
Tax credits are available in the following categories:
1. General Homestead: Maximum tax credit: $400.00
2. Veterans: Maximum tax credit: $650.00
3. Seniors: Maximum Tax Credit: $500.00
4. Disabled: Maximum Tax Credit: $500.00
5. Class 1 Inheritance Tax Credit: Credit equal to 80% of the real property taxes levied until $5,000 or more of improvement are made on said property.
6. Visitable Home Tax Credit: Credit equal to 20% of the taxes levied by the Tax Assessor. Certification must be from the Virgin Islands Department of Planning and Natural Resources.
7. Virgin Islands farmers: Must obtain certification from the Virgin Islands Department of Agriculture.
Property owners who require a detailed description of the various tax credits, or who may be eligible for these tax credits are encouraged to visit the Tax Assessors Office on their respective island or call (340) 776-8505 in St. Thomas, (340) 776-6737 on St. John, (340) 773-6459 for Christiansted or (340) 772-3115 for the Frederiksted office.
Posted : January 29, 2017 12:05 pm
Thanks Alana. I believe that Potters release may be incomplete in that it does not say that those who already have credits must reapply in 2017 because their current credits will expire in 2017. That is what you and I were both told when we called the lieutenant governors office. Unless they rescinded that plan.
Posted : January 29, 2017 1:20 pm
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I know. I picked up a form to reapply just before I left. Just in case.
You were told one thing for STX and I was told another by STT office.
Remember I was told it wasn't necessary to reapply as yet as they hadn't finalized or formalized whether it was necessary to reapply for the property tax credits you already receive. You can find the form on their website, if needed.
Posted : January 29, 2017 1:50 pm
Thanks Alana I reapplied back in November, just to play it safe, based on what I was told.
Posted : January 29, 2017 6:28 pm
