Property tax bills likely in Spring

The Assessor expects to put property tax bills in the mail in April. 

Roy L. Martin said owners who are still unhappy with their valuations can then file formal appeals with his office. There has been an ‘informal’ appeal process going on since a Territory-wide revaluation was released last Fall, and some "tax bills (have been) recalculated to reflect the lower values characteristic of the real estate market in 2006," the St. John Source reported.  Martin said re-revaluation data will be posted to the Assessor’s Web site, but didn’t say when. (Read the full story here: http://www.onepaper.com/stjohnvi/?v=d&i=&s=News:Local&p=1203138795)

His comments came after the VI Senate approved a property tax bill, similar to one proposed by the Governor establishing different tax rates for various categories of property. The Assessor said property values will be adjusted each year. The Senate-passed bill puts a three percent cap on the amount taxes can increase "within a five-year period," the Source reported.

If history is a guide, there’s still a lot of time before taxes have to be paid.  For starters, a federal court has to approve the new tax rates and process. 

Leave a Comment