March 1 is Last Day to Apply For Property Tax Credits, Office of the Lt. Governor Has Announced
The Office of the Lieutenant Governor is reminding property owners that the deadline to apply for property tax credits against their 2023 property tax bills is Wednesday, March 1, 2023.
The OLG aid applications can be found online at ltg.gov.vi and at the Offices of the Tax Assessor on St. Thomas, St. Croix, and St. John.
To be eligible for homestead credits against the 2023 property tax bill, a person must be the property owner of record within the period of January 2, 2022 through January 1, 2023 for the 2023 tax year, according to the release. Property owners may not apply for more than two credits.
Tax credits are available in the following categories:
- General Homestead: maximum tax credit- $400.00
- Veterans: maximum tax credit- $650.00
- Seniors: maximum tax credit- $500.00
- Disabled: maximum tax credit- $500.00
- Class 1 Inheritance: tax credit- equal to 80% of the real property taxes levied until $5,000 or more of improvements are made on said property.
- Visitable Home: maximum tax credit- equal to 20 percent of the taxes levied by the Tax Assessor. Certification from the Virgin Islands Department of Planning and Natural Resources is required.
Property owners are reminded that they are still required by law to pay a minimum property tax of $180. Detailed descriptions of all tax credits are available at the Offices of the Tax Assessor. Eligible property owners may visit or call for additional information: St. Thomas/St. John at (340) 774-2991 or St. Croix at (340) 773-6449.
This post was originally published on this site