The USVI offers a tax program that is fully sanctioned by the U.S. government and Internal Revenue Service. Search. We are striving to develop the most comprehensive free directory of public records links in the country. These new tax breaks join the 90 to 100 percent breaks on corporate income tax, gross receipts tax, property tax and excise tax the territory gives through the Economic Development Commission and through the University of the Virgin Islands Research and Technology Park. U.S. Virgin Islands – Taxation Benefits for Approved Investors The Virgin Islands Economic Development Commission (“VIEDC”) offers a unique and attractive tax incentive program for companies locating in the USVI. Resident Taxes. Property owners can view the 2018 Property Tax Assessment online at www.bvi.gov.vg. Roundtrip transaction costs range from 10% to 14.6% of property value. The waiver is effective immediately and will continue until June 30, 2021. There is no sales tax in the U.S. Virgin Islands, but there is a 4 percent tax on all property brought into the territory from the mainland for personal use. Property Tax The US Virgin Islands currently imposes a real property tax at 1.25% of the property´s assessed value. Below is a breakdown of stamp taxes present in the U.S. Virgin Islands: 2% for properties valued at $350,000 2 ½ % for properties valued to the excess of $350,001 to 1 million 3 % for properties valued to the excess of $1,000,001 to $5 million In the Virgin Islands, a stamp tax is levied on individual transactions. The USVI’s tax program is not only one of the most competitive tax benefits packages within the Caribbean, but across the globe. Enter ‘2018 Property Tax Assessment’ in the Search option on the Government’s website, then click on the ‘2018 Property Tax Assessment Due on September 1’ press release. This assessment contains owner information, acreage, assessment value and tax payable. Search. Taxpayers are encouraged to contact the Office of the Tax Collector for payment arrangements. This Final Billing reflects the new tax rate determined by City Council in support of its annual budget, less the amount billed on the Interim. “Property taxpayers may pay their delinquent taxes with 100 percent waiver of all interest and penalties. 1. CHARLOTTE AMALIE — Lieutenant Governor Tregenza Roach has announced that he has given full authority to the Office of the Tax Collector of the Virgin Islands to waive all interest and penalties on real property taxes.. Search. The property´s assessed value is 60% of its actual value or fair market value. ; The U.S. Virgin Islands does not have an Export List. If you pay taxes on your personal property and owned real estate, they may be deductible from your federal income tax bill. View listing photos, review sales history, and use our detailed real estate filters to find the perfect place. Typically, the property value determines the rate of stamp tax assessed. ... Homestead tax exemption of up to $650.00 from the Real Property Tax Bill is offered to veterans on their primary home. Legal fees are at 1% to 2%. The U.S. Virgin Islands also imposes stamp taxes on real property transfers at the rate of 2%..142.56 - U.S. … The transfer tax ranges from 2% to 3.5% depending upon property value. A World-Class Tax Benefits Package In the U.S. Virgin Islands, unique tax benefits translate to a better bottom line. Zillow has 666 homes for sale in Virgin Islands. Employment Screening Records Search. The Lt. Gov proposed tax rates of .0036% on residential property, .0065 for commercial property, .0110 for timeshares, and .0046 for land. Title 31 - Public Works and Property (Pts. Most state and local tax authorities calculate property taxes based on the value of the homes located within their areas, and some agencies also tax personal property. Marriage & Divorce Records Search. Government of the Virgin Islands, was brought by Robert Molloy, who moved from Virginia to the Islands and was forced to pay $2,365 in use taxes for property he brought from the mainland. Search. The taxes can range in price from small to large. The U.S. Browse Our US Virgin Islands Real Estate Listings. This includes commercial, residential, and industrial properties. If you own land and/or a house in the British Virgin Islands you have to pay tax on them. Property tax is a combination of land and house tax. There is a sliding scale government transfer tax (stamp tax) on residences and land at closing and is based on the purchase price. General Information: The U.S. Virgin Islands maintains a list of eligible surplus lines insurers (see Other Comments section #1). internal revenue taxes of the Virgin Islands, other than real property taxes, stamp taxes, and franchise taxes. Search US Virgin Islands Property for Sale. Our only taxes are paid on IRS Forms, to the … 2.5% for property valued from $350,001 to $1,000,000 C.) 3% for property valued from $1,000,001 to $5,000,000 The stamp tax in the U.S. Virgin Islands requires a payment 2% to 3.5%. The tax rate for undeveloped land is 0.0049% of the assessed value. Virgin Islands Property Taxes; Virgin Islands Property Taxes. The average property owner would see property taxes more than double, from $1,542 to $3,831, the Source reported. Justia › US Law › US Codes and Statutes › US Virgin Islands Code › 2019 US Virgin Islands Code 2019 US Virgin Islands Code. The Recorder of Deeds office is responsible for recording all property deeds, mortgages, personal liens, tax liens, and other miscellaneous documents against individuals and property owners. This is a competitive off-shore tax benefit program that is sanctioned by the U.S. Government through an Act of Congress under the Internal Revenue Code. Assessed value is defined by statute to be 60% of actual value. That means you will receive protection via the criminal laws of the United States. The following is a break down of stamp taxes in the U.S. Virgin Islands: 2 percent for properties valued up to $350,000 2 ½ percent for properties valued from $350,001 to 1 million 3 percent for properties valued from $1,000,001 to $5 million As a resident of the USVI (you must be a resident by the last day of the tax year), you will need to file a 1040 tax return with the USVI government office. ; The U.S. Virgin Islands does not have a Surplus Lines Association. The British Virgin Islands . If you decide to start living in St. Thomas, then you are going to be living in a U.S. territory. You won’t need to file a return with the IRS if you are a resident of the USVI, as long as you report and pay all … Ocwen, which opened subsidiaries on the island of St. Croix in late 2012, will receive the tax breaks for 30 years, until 2042, potentially saving billions of dollars. You’re still living in the United States. The real estate agent's fee, at around 6%, accounts for the greater part of the costs. 6115 Estate Smith Bay Ste 225 St Thomas, VI 00802 4008 Estate Diamond Plot 7-B Christiansted, VI 00820-4421 Property Records Search. The Recorder of Deeds performs the duty of recording documents as outlined … The amount owing in July and October is charged on the Final Billing. The U.S. Virgin Islands is actually a United States territory, not a commonwealth. Title 1 - General Provisions (Chs. The U.S. Virgin Islands offer several veteran benefits. A.) The following is a breakdown of stamp taxes in the U.S. … Residential property has an annual tax of 0.0038% of the assessed value. Contact the Virgin Islands Department of Licensing and Consumer Affairs on their website https://dlca.vi.gov/ or call them: (340) 773-2226 (St. Croix) (340) 776 … If a property transaction is over $350,000, then it requires a mandatory 2.5% stamp tax. The island also receives protection from the military in case there is something that happens in the world. Mostly, it is essential in real estate transfers and shares transfers in firms with real estate property. The British Virgin Islands (BVI) is an ideal place to establish an offshore bank account. 2% for property valued up to $350,000 B.) Taxes The US Virgin Islands are a little known tax haven for all. The average property value on all three islands increased by 85%. Consumer Fraud Complaint. I - II) Title 32 - Sports and Parks (Chs. Many of the experiences that you will have are the same as any othe… Land means any plantation, estate … Revenue Officers in the Delinquent Accounting and Returns Branch receive IRS training, and collection procedures and forms are generally the same as those used in the United States, including levies, liens and seizures. Birth & Death Records Search. Postal Service delivers your mail here as well. Our site is the ultimate place to discover property for sale in the US Virgin Islands for buyers drawn to this island chain’s dreamy beaches, luscious hills and spectacular reefs. We have no state, county, or city taxes, no sales tax and extremely low property taxes ( $377 per $100,000 of value for homes and condominiums). "Please retain this final bill for income tax purposes. U.S. Virgin Islands real property is subject to an annual tax at a rate of 1.25% of assessed value. Thus, the effective tax rate is 0.0075% of the property´s fair market value. Posted on: June 8, 2010 by neutrino.