The Virgin Islands government is catching up on property taxes. Bills for 2010 are about to go into the mail. There’s a 2.5% discount if you pay by the end of the month; a late charge will be tacked on after Sept. 30.
Issuing the tax bills couldn’t be more critical. The Governor just announced his budget proposal for the next year, estimating that the closure of the Hovensa oil refinery operation is going to cut the Territory’s revenues by nearly $100 million. Gov. de Jongh said the only way he’ll be able to balance the VI budget this year is to borrow another $60 million.