By Susan Mann
Caribbean Net News US Virgin Islands Correspondent
Email: susan@caribbeannetnews.com
ST THOMAS, USVI: Governor John deJongh has called the 27th Legislature into special session on Thursday to consider legislation that will address real property taxes and bring much needed property tax relief for US Virgin Islanders.
In the first session call of his Administration, deJongh, at a news conference on Tuesday, explained, “The present situation regarding the real property tax system of the Virgin Islands remains unsettled and does not provide our constituents with the sense of security which they rightfully expect from their elected leaders.”
 |
USVI Governor John
deJongh, Jr. Photo:
Susan Mann |
DeJongh further described the matter of real property tax laws as one of, “utmost priority to our citizens given the importance of real property taxes to the budget of the Government and the significance of the Government properly administering its own real property tax system.”
The bill, which the Governor forwarded to the Senate on Tuesday, differs from an earlier version in several respects: the income qualification for homeowners whose tax liability has dramatically increased has been raised from $70,000 to $90,000; the minimum property tax liability for real property owners has been decreased from $400 to $300; the issuance of only one property tax bill in fiscal year 2008; appropriations to the Office of the Tax Assessor of $60,000 to $30,000 for training and equipment have been added.
In addition, the legislation submitted includes a provision which allows the Governor to direct a tax amnesty for the tax year 2005 and all prior years.
“The additional measures contained in the proposed legislation will provide V.I. property owners with additional relief from the effects of the increased values of their properties,” deJongh said.
The governor also noted that St John represents a “special case”, where the real estate market has skyrocketed over the past decade.
According to USVI Tax Assessor, Roy Martin, a total of 606 revaluation appeals were filed by property owners on St John.
“We anticipate that the revised values, as assessed, will be posted on the public access website, www.vipropertyrevaluation.com, by early next week,” said Martin.
He went on to say that the valuations are inclusive of 2006 sales analysis, as submitted to the (court appointed) Special Master, along with other changes made to the revaluations and in accordance with the informal hearing appeals process.
Through this method of information sharing, all property owners throughout the territory will be able to view the new valuations for their properties. As an arm of the Court, the Special Master is in place to make sure that the Government complies with a court order relating to the entire tax collection process.
A private company was contracted by the USVI Government and approved by the Special Master to complete the highly controversial revaluations. There has been on going, significant media coverage regarding the Real Property Tax increases, which were reflected in revaluation letters mailed out to property owners throughout the territory last fall. |
