Hi-lights of the most recent court order concerning Virgin Islands property taxes:
– The 1998 property values and tax rates shall continue for the 2007, 2008, 2009 tax years.
– The governor will submit legislation to the V.I. Senate to extend the waiver of interest and penalties for six months on the 2009 tax year bills.
-Â The government will not be able to collect property taxes using fair market values or the new tax rate structure – made law in 2007 – until the 2010 tax year. Because the government did not issue any tax bills at all for four years, taxpayers will receive two years’ worth of bills each year until the bills are current. The 2010 tax bill will not be issued until 2012.
Concerning appeals of tax bills:
– The Tax Review Board hearing examiner’s report will be given to the taxpayer before the hearing.
– The taxpayer shall be notified of the hearing and the right to appear and present objections.
– If the board fails to make a decision 120 days after an appeal has been filed, the appeal automatically will be granted and the assessed value will revert to the prior year’s assessed value.
– If there is a continuance in a board proceeding, the parties may agree to give the board an additional 30 days to make a decision. If the taxpayer refuses the request, the board has the right to advise the taxpayer that unless consent is given, the appeal must be denied without consideration.