Lieutenant Governor Tregenza A. Roach, Esq., reminds property owners that they can now apply for property tax credits against their 2020 property tax bills. Applications can be found online at ltg.gov.vi and at the Office of the Lieutenant Governor’s Tax Assessor Divisions on St. Thomas, St. John, or St. Croix. Property owners of record have until Friday, March 20, 2020, to apply for the tax credits.
To be eligible for Homestead credits against the 2020 property tax bill, a person must be the new property owner of record within the period of January 2, 2019 through January 1, 2020 for the 2020 tax year. Property owners may not apply for more than two credits.
Tax credits are available in the following categories:
- General Homestead: maximum tax credit- $400.00
- Veterans: maximum tax credit- $650.00
- Seniors: maximum tax credit- $500.00
- Disabled: maximum tax credit- $500.00
- Class 1 Inheritance: tax credit- equal to 80% of the real property taxes levied until $5,000 or more of improvements are made on said property.
- Visitable Home: maximum tax credit- equal to 20% of the taxes levied by the Tax Assessor. Certification from the Virgin Islands Department of Planning and Natural Resources is required.
- Virgin Islands Farmers: certification from the Virgin Islands Department of Agriculture is required.
Lieutenant Governor Roach also reminds property owners that they are still required by law to pay a minimum property tax of $180.00. Detailed descriptions of all tax credits are available at the Tax Assessor’s offices on each island. Eligible property owners may visit or call the Tax Assessor’s offices for additional information: St. Thomas/St. John at (340) 774-2991 or St. Croix at (340) 773-6449.