Lt. Governor Francis Announces Favorable Report from Property Tax Special Master
For Immediate Release No. 016-08
April 07, 2008
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Lt. Governor Francis Announces Favorable Report from Property Tax Special Master
Lieutenant Governor Gregory R. Francis is pleased to announce the favorable findings of Special Master Joseph E. Hunt regarding the efforts of the Office of the Lt. Governor and Tax Assessor to implement a system for valuing territorial properties.
In his March 31, 2008 report to Virgin Islands District Court Judge Curtis Gomez, Hunt found the Virgin Islands Government to be in compliance with requirements specified in the Berne Settlement Agreement. “It is my opinion that the Government of the U.S. Virgin Islands is in compliance with the Court’s directive to put in place an assessment system and procedures that are proper and capable of producing credible and reliable assessments,” Hunt wrote. In his three-page report, Hunt finds the revaluation to be complete. “The assessment system now in place meets or exceeds industry standards recommended by the International Association of Assessing Officers. The USVI assessment system now has the capability of performing reliable and credible mass appraisals for assessment purposes.”
Lieutenant Governor Francis is pleased that the time spent on reforming the property tax system has been successful. “The process of updating our system to reflect accurate values has been worthwhile,” Francis states. “The favorable findings of Special Master Hunt move this administration towards closing this chapter and moving forward with a property tax system that reflects the realities of today’s market.”
