Finally, we have a new property tax bill! The bill calls for tax payers to pay at a mil rate of .0037 on homes, .0049 on unimproved property, .0071 on commercial properties, and .014 on timeshares. These rates are paid on 100 percent of the value of the property.
Previously, all tax payers paid a mil rate of .0075 on 60 percent of the value of the property.
Since property tax bills have NOT been issued yet for 2006 and 2007, buyers will receive a credit at closing for these taxes, but then will have to pay them once the bills ARE issued.
As a service to my buyers, I will certainly remind you when these bills come out - and help you get a copy if you need one. Not receiving a bill is no excuse for not paying the taxes - and penalties and interest do apply, even when the tax office is not able to get the bills distributed correctly!
Contact me with questions about your property taxes, or buying and selling real estate in St. Croix.
Kim Lucas REALTOR
kim@coldwellbankervi.com
http://www.kimlucasvi.com/
http://www.retireinthevi.com/
I love to help investors and fellow Caribbean Souls find property in St. Croix, and work hard for my Island mates who want to sell their property.
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So am I correct in assuming that the tax rate went down for homes? What a nice way to keep in touch with your clients. I always think reminders and little services like this make a huge difference.