1. Property Tax Rates

Residential Property : The tax rate for residential properties in St. John is 0.00377, which is 0.377% of the assessed value. ·

Commercial Property : Commercial properties are taxed at a rate of 0.0075, or 0.75% of the assessed value. ·

Vacant Land : The property tax rate for vacant land in St. John is 0.004946, or 0.4946% of the assessed value.

Timeshare Units : Timeshares are taxed at the rate of 0.01407, or 1.407% of the assessed value.

2. Assessed Value

Market Value Assessment : Property taxes are determined based on the property’s assessed market value. Usually, the Virgin Islands Tax Assessor’s Office conducts the assessment. Market value is usually determined by the recent sales prices of comparable properties in the area and/or a property closing and the new purchase price becomes the new assessed value.

Reassessment : Properties in St. John may be reassessed every few years to reflect changes in market conditions and value, which may mean property taxes adjusted accordingly.

3. Payment of Property Taxes

Due Dates : Usually property taxes are billed once a year, coming out in June and due by the end of August.

Penalties : Late payment can result in penalties and interest fees for the property owners so it’s important to keep up with the due date.

4. Exemptions and Reductions

St. Johns’ residents are eligible for several exemptions and they depend on the financial status and duration of service. ·

Homestead Exemption : A homestead exemption may reduce the taxable value of the property owners’ residence, lowering property taxes ·

Veterans’ Exemption : Veterans who live in St. John may also qualify for additional property tax exemptions. ·

5 Special Considerations

Hurricane Damage : After a natural disaster, if property get damaged, property owners may be entitled to a reassessment and a temporary reduction in property taxes.

Non-resident Owners : Non-resident owners in St. John are subjected to the same rates as in-state residents; however, they are not eligible for the homestead exemption.

6. Appealing an Assessment

Dispute the Assessment : If you believe that your property had been over-assessed, you have the right to appeal to successfully appeal your property tax assessment, provide evidence that the assessed value does not accurately reflect the market value of the property..

7. How to Pay

Online Payment : Property taxes can be paid online via the official government of Virgin Islands website.

In-person or Mail : Depending on the payment method, the owners will either go to the Tax Collector’s Office or mail a check to the corresponding address.

It is always advisable to consult the Virgin Islands Tax Assessor’s Office or you can contact us 340 Real Estate company for recent information on taxes. Especially, if you are purchasing a property and want to understand the ongoing costs of property taxes.

Feel free to contact for any information on property taxes :

Call : +1 340-643-6068

Email: 340realestateco@gmail.com