USVI ts owners news on property taxes

I was alerted to the good news by a yahoo group for my resort, someone had searched the tax database and found the taxes down 50% !! Check yours out today.

http://public.usvi.cavucorp.com/main.asp

Mine (and other WSJ-VGV owners) - went up by 33%. If it was decreased - it is likely due to the assessed value being decreased. TS property taxes in USVI are now 1.41% of full assessed value. Before it was like 1.25% of 60% of assessed value ( ~0.75% or something like that).

Have no doubt the assessed value went down, it was ridiculous what they claimed the 1/52 week was worth in compared to a similar unit owned year round . We had an owner take it up to the Federal court level, unbeknownst to myself and other owners who are now going to benefit with the lower tax rate.

My MFC week property taxes are 27% lower

Tia said:

Have no doubt the assessed value went down, it was ridiculous what they claimed the 1/52 week was worth in compared to a similar unit owned year round . We had an owner take it up to the Federal court level, unbeknownst to myself and other owners who are now going to benefit with the lower tax rate.

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That is excellent - at least for now. Of course, if they increase it in the future the overall rate of 1.4% is pretty high (but pales to Maui). The previous corrected rate was 0.75% (60% of 1.25%) Our assessment went down from $15.8K to $11.1K, but weeks are running about 1/2 on the resale market. Not worth the effort/money to dispute the assessment.
{see WSJ thread on SW forum}

Someone also said on my owners yahoo group that they hear 'Wyndham Marriott, Ritz Carlton' are working to fight back, no more info re though.

Another owner suggested even though 'real property tax is an individual matter and not necessarily a matter on the Board's agenda The Board can exercise leadership. Scout out a good attorney. Find out the fee. Notify owners. Have them mail in their ten dollars or so to cover the cost of legal counsel and fight some of the assessments.'

will check out the thread mentioned

DavidnRobin said:

That is excellent - at least for now. Of course, if they increase it in the future the overall rate of 1.4% is pretty high (but pales to Maui). The previous corrected rate was 0.75% (60% of 1.25%) Our assessment went down from $15.8K to $11.1K, but weeks are running about 1/2 on the resale market. Not worth the effort/money to dispute the assessment.
{see WSJ thread on SW forum}

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