How do I homestead my house for tax purposes
I understand I can homestead my house and save on my property taxes. Anybody know the process to do this? Any information would be a help.
This is an old (2005) press release but it'll direct you to the information you're looking for. It doesn't look as though the exemption is worth very much but it'll be interesting to hear what you find out:
Live in it for 6 mos +1day/year.
$250 deduction from the tax bill is something to have...just go to the tax office and apply. takes 10 minutes or so!
If on STX, apply at the Property Tax office in the Lt. Governor's building in C'sted.
You have to provide proof of ownership of the property, and also a WAPA bill in your name. You fill out the form and then you're done. You do get $250 deducted from your tax bill, which is a nice break.
You will also see the credit applied if you go online: http://public.usvi.cavucorp.com/logon.htm
This site is also handy to look up senators to see who hasn't paid their property tax bills. Chucky Hansen has not paid about 10 of the last 12 or 13 years of property tax on a property she owes!!!
islandjoan has it right and it was a very easy process. The ladies at the Lt. Governor's office in STX are very nice and easy to work with, very helpful and my deduction hit my 2009 property taxes as expected.
I got it done today, the staff was helpful and easy to deal with. Now I am a homesteader and get a tax credit on my 2012 taxes.Just needed my local ID and a quick look at my WAPA bill and sign one sheet.