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Virgin Islands Statutes, Title 33

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Virgin Islands/Statutes

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Title 33, Taxation and Finance

44 chapters · 597 sections in this title.

All chapters in Title 33597 Ch 111, Government Funds141 Ch 117, The Public Monies38 Ch 21, Information and Returns34 Ch 3, Miscellaneous Excise Taxes; Gross Re…31 Ch 89, Levy and Collection of Tax31 Ch 81, General Provisions; Rate of Tax27 Ch 45, Crimes, Other Offenses, and Forfeitures26 Ch 27, Collection24 Ch 47, Judicial Proceedings21 Ch 118, Tort Claims15 Ch 85, Assessment of Property14 Ch 113, Appropriations14 Ch 115, Accounting14 Ch 2, Gift Taxes11

27 sections·Filtered byTitle 33✕Ch 81✕

33 V.I.C. § 2301 Imposition and rate of tax
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(a) All real property in the Virgin Islands subject to taxation must be assessed at 100 percent of its fair market value as calculated by using the assessment methods set forth in sections 2403 and 2404 of this chapter; (b) The Tax Assessor shall levy and collect on real property…
33 V.I.C. § 2302 Disposition of proceeds of the tax; allocation of tax increment
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(a) The proceeds of this tax and the taxes upon property heretofore levied under any tax law, including all surcharges, shall be covered into the general fund of the treasury of the Virgin Islands. (b) Notwithstanding the provisions of subsection (a) of this section, in addition …
33 V.I.C. § 2303 Real property subject to tax
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All real property not in this subtitle expressly exempted from taxation shall be assessed and taxed.
33 V.I.C. § 2304 Real property exempt from tax
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(1) The following property shall be exempt from taxation —(1) property of the United States, unless otherwise provided by the Congress of the United States;(2) property of the government of the United States Virgin Islands;(3) every building used and set apart exclusively for—(A)…

33 V.I.C. § 2305 Homestead exemption

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(a) For the purposes of this section a homestead shall constitute the abode including land and buildings, owned by, and actually occupied by, the property owner, or by members occupied by, a person, or by members of the property owner's family free of rental charges. Rental of an…

33 V.I.C. § 2305a Tax credit under certificate of visitability

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A real property tax credit of twenty percent of the taxes levied by the Tax Assessor against real property under a Certificate of Visitability pursuant to section 344 of Title 29 is granted to the eligible property owner for a total of ten years, unless title to the real property…

33 V.I.C. § 2305b Federal real estate impact credit

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(a) The Tax Assessor shall determine the percentage of real property the federal government owns on each island at the time the assessment of residential real property under section 2402(a) is made and shall grant a tax credit in that percentage against the taxes levied on the re…

33 V.I.C. § 2305c Circuit breaker tax credit

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(a) Upon proper application to the Tax Assessor, an owner of homestead residential real property or unimproved property is entitled to a credit, not to exceed $5,000, equal to the amount by which the real property taxes calculated for the property for the prior year exceed two pe…

33 V.I.C. § 2331 Unpaid taxes as first lien upon the property

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Taxes levied by the Tax Assessor upon real property shall be a first lien against the real property including any improvements that may be thereon or that may be subsequently placed thereon. The lien shall be prior to all other liens on the property whether they attached before o…

33 V.I.C. § 2332 Lien for the payment of tax by another

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When the real property is levied to any person or agent for another, or in a representative capacity, such person, agent, or representative shall have a lien upon that or any other real property of his principal in his possession, for the taxes thereon, until he is indemnified ag…

33 V.I.C. § 2341 Statement of policy

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The Legislature hereby determines that the preservation of a maximum amount of the limited supply of farmland area is necessary to the viability of the territorial economy. The Legislature further determines that in a rapidly urbanizing society, the public has a definite interest…

33 V.I.C. § 2342 Farmland exemption

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There shall be an tax credit for the property owner of ninety-five percent (95%) of the real property taxes levied by the Tax Assessor against the total area of real property, including structures and improvements thereon, used actively and solely for agricultural or horticultura…

33 V.I.C. § 2343 Definitions

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(a) Real property shall be deemed to be “used actively and solely for agricultural or horticultural purposes” when devoted in a complete and active manner to the production for sale of plants or animals for purposes of human consumption or to the production of products used in th…

33 V.I.C. § 2344 Requirements for real property

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(1) An owner of real property in the Virgin Islands who files timely application shall receive the tax exemption granted by this subchapter on the total area of real property—(1) used actively and solely for agricultural or horticultural purposes;(2) located within an area, estab…

33 V.I.C. § 2345 Determination of real property area and real property use

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(a) For the purposes of this subchapter, in determining the total area of real property used actively and solely for agricultural or horticultural purposes there shall be included the area of all real property under structures and improvements, such as barns and sheds, used in di…

33 V.I.C. § 2346 Roll-back taxes: Determination; enforcement; effect of condemnation

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(a) When real property in agricultural or horticultural use and subject to the tax exemption granted by this subchapter, is applied to a use other than agricultural or horticultural, it shall be subject to additional taxes, hereinafter referred to as “roll-back taxes”, in an amou…

33 V.I.C. § 2347 Change in use; change in ownership; subdivision of part

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(a) If change in use of any real property occurs during the tax year, including the period between October 1, and December 31, the assessor shall deny or nullify the application and shall impose the full tax on the real property. If, notwithstanding such change in use, the exempt…

33 V.I.C. § 2348 Assessment of land not affected by subchapter

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Nothing in this subchapter may in any manner affect the assessment of real property (whether or not used actively and solely for agricultural or horticultural purposes) under this chapter and chapter 85.

33 V.I.C. § 2349 Annual application; form; certificate

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(a) Eligibility of real property for the exemption granted by this subchapter shall be determined for each tax year separately. Applications shall be submitted by the owner to the Lieutenant Governor for referral to the tax assessor on or before October 1, of the tax year for whi…

33 V.I.C. § 2350 Rules and regulations; penalties

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(a) The assessor shall promulgate, amend or repeal such rules and regulations and prescribe such forms as he shall deem necessary to effectuate the purposes of this subchapter, subject to the approval of the Lieutenant Governor. (b) The pertinent provisions of chapter 77 of Title…

33 V.I.C. § 2355 Statement of policy

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The Legislature hereby determines that there is a continuing and ever increasing need to preserve and protect natural areas, open spaces, the beaches and surrounding waters, historic sites, plant and animal life and the total scenic beauty which are the very essence of the Virgin…

33 V.I.C. § 2355a Exemptions to nonprofit organizations

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(a) In addition to all other exemptions for taxation provided by law, there shall be exempt from property taxes all real property owned by or held in trust for any nonprofit organizations, when such property is(1) used for recreational purposes; or(2) held for the purpose of pres…

33 V.I.C. § 2355b Annual application; form; certificate

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(a) Eligibility of real property for the exemption granted by this subchapter shall be determined by the tax assessor for each and every year for which such exemption is sought. Application for exemption shall be submitted by nonprofit organizations to the tax assessor on or befo…

33 V.I.C. § 2355c Roll-back taxes

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(a) When real property subject to the tax exemption granted by this subchapter, is applied to a use which disqualifies it for exemption, it shall be subject to additional taxes, hereinafter referred to as “roll-back taxes”, in an amount equal to the exemption or exemptions grante…

33 V.I.C. § 2355d Change in use, change in ownership

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(a) If change in use of any real property which qualifies it for exemption occurs during the tax year, including the period between October 1, and December 31, the tax assessor shall deny and nullify the application and shall impose the full tax on such real property. If, notwith…

33 V.I.C. § 2355e Assessment of property not affected

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Nothing in this chapter and chapter 85 may in any manner affect the assessment of real property under this subtitle.

33 V.I.C. § 2355f Rules and regulations; penalties

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(a) The Tax Assessor shall promulgate, amend, or repeal such rules and regulations and prescribe such forms as he shall deem necessary to effectuate the purposes of this subchapter, subject to the approval of the Governor. (b) The pertinent provisions of chapter 77 of Title 14 of…