May 29, 2008 – Lieutenant Governor Gregory R. Francis reminds the public that there are two days left to apply for tax credits against the 2006 property tax bills. Virgin Islands property owners have until the close of business on Friday, May 30, 2008 to apply for the property tax credits, formerly known as exemptions.
Property tax credits are available in the following categories: homestead, disabled, veterans, seniors, Class I for owners who have inherited less than five acres of unimproved property, and a tax-credit circuit breaker. Property owners may apply for the homestead credit and any one of the other categories for which they are eligible. Taxpayers eligible for the circuit breaker tax-credit may still apply for that credit upon receiving their 2006 tax bill. Property owners are eligible for the circuit breaker credit if their tax bills have increased by 125 percent or more on their homestead or unimproved property and their gross income is less than $135,000.
Applicants are required to provide a valid United States Virgin Islands driver's license or voter registration card and a current utility bill. Depending on the category, applicants may also be required to provide the stamped copy of their 2006 tax return as proof of residency or income. Certain income restrictions apply.
Persons who are interested in applying for the tax credits are encouraged to visit the Tax Assessors Office on their respective island, or contact 776-8505 on St. Thomas, 776-6737 on St. John, or 773-6459 for Christiansted office or 772-3115 for the Frederiksted office.
