The government is offering taxpayers a five percent discount to pay property taxes within 60 days of the tax bills being sent.
There's a reason they want the money fast. Property taxes have not been collected in four years and the government is in deep red kimchee due to its dispute with the US government about the fairness of the system.
In a news release, Lt. Gov. Gregory Francis offered the details of the plan the Administration would like the VI Senate to approve. It also calls for allowing people to pay their taxes in installments, although a six percent penalty would be added.
The tax bills for two years would be issued using valuations from 1998. They are significantly … significantly!!!! … lower than the ones calculated a few years ago in the Territory-wide reassessment.
- The Lt. Gov.'s plan can he read at http://bit.ly/b6XyVS. He is taking public comments until March 23.
1 thought on “Details of a St. John property tax deal”
Property owners can capitalize on the depreciation of their property by deducting it from their taxes. However, not all property is eligible for this kind of tax deduction.