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Property Tax Exemptions

 
Ericw
(@Ericw)
Advanced Member

So I called the tax office to inquire on what would be needed to file for a homeowners exemption on our property tax bill and besides the normal stuff - affidavit form, VI ID, WAPA bill (this one is still a little strange but ok I'll go with it - but what if you're off the grid solar!?) - she also said a copy of our most recently filed 1040. I was floored about that... is that accurate that they need our tax return or was she wrong? Never have I ever needed to present a tax return except to a bank for a mortgage.

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Topic starter Posted : February 25, 2015 12:11 pm
vicanuck
(@vicanuck)
Expert

They make it up as they go here. The best advise is to just nod politely and give them what they want. Take the path of least resistance.

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Posted : February 25, 2015 12:15 pm
Alana33
(@alana33)
Expert

I've never been asked to give any tax info aside from previous property tax bills and maybe a driver's license.

There's a printed list of exemptions that you can ask them to give you to see if you qualify for more than 1. It's good to have but remember when you file for any exemption, it won't take effect until following year so don't procrastinate. Good luck.

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Posted : February 25, 2015 5:19 pm
piaa
 piaa
(@piaa)
Trusted Member

Yes that is correct.

Pia

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Posted : February 26, 2015 1:13 am
klpmtm
(@klpmtm)
Advanced Member

Just curious, why would some one be exempt from property taxes if they own property?

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Posted : February 26, 2015 4:27 am
Scubadoo
(@Scubadoo)
Trusted Member

Maye he lives in a church?:-)

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Posted : February 26, 2015 4:37 am
Alana33
(@alana33)
Expert

Your not exempt from property taxes but there are exemptions that one can apply for that can lower your bill. For instance, if you apply for a Homestead exemption, which means you live on the property, you may get a $400.00 discount on your bill. There are other exemptions available as well. That's just one example.

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Posted : February 26, 2015 10:08 am
Exit Zero
(@exit-zero)
Trusted Member Registered

This is a nice list of exemptions:

http://stthomassource.com/content/news/local-government/2005/01/14/homestead-exemption-benefits-available

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Posted : February 26, 2015 12:33 pm
Alana33
(@alana33)
Expert

There are additional exemptions as well.
Here's a list. This is dated 2014 so don't know if things have changed.

Homestead $400
Veterans $650
Disabled $500
Senior $500
Class I Inheritance - has criteria to be met, unimpproved land of 5 acres or less
Visitable Home
Circuit Breaker Tax Credit
Farmland Credit

All the above have conditions to be met to qualify.
The circuit breaker tax credit does list that one has to bring stamped copy of last 3 years of income tax returns. This applies to the disabled and senior tax credits as well

Ericw - for homestead, my list says you need USVI driver's license, USVI voter ID, current utility bill.

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Posted : February 26, 2015 1:05 pm
terry
(@terry)
Expert

Do you have to live on the property to get the senior discount? What about for a condo and senior discount?
How and where do you apply?

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Posted : February 26, 2015 2:00 pm
Alana33
(@alana33)
Expert

Call the Lt. Governor's Office /Tax Assessor's Office to inquire.
To qualify:

For senior tax credit must be primary residence as of Jan 1, must be 60 plus, individual annual gross income of no more than $30K including social security, household annual income no more than $50K including ss, must provide 3 yrs. tax returns, utility bill, USVI senior Citizen ID or USVI ID w/dob.

Don't know if they allow you t have more than 1 exemption, anymore.
Used to be you could get all that you qualified for but think that changed.
Check with them, directly

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Posted : February 26, 2015 2:14 pm
Ericw
(@Ericw)
Advanced Member

Thanks Alana33 sent you a PM.

They let you have 2 exemptions total for anyone curious. Homestead + one other.

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Topic starter Posted : February 26, 2015 4:49 pm
Alana33
(@alana33)
Expert

I PM'd you, Ericw

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Posted : February 26, 2015 5:14 pm
klpmtm
(@klpmtm)
Advanced Member

Thanks for the info!

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Posted : February 27, 2015 6:21 am
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