Title 33 — Taxation and Finance
44 chapters · 619 sections in this title.
33 V.I.C. § 2401 Definition of immovables
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(a) For the purpose of the assessment and collection of taxes, real property shall be deemed to be synonymous with immovables. (b) An immovable is a thing which from its nature, destination or the object to which it is applied, cannot move itself or be removed. (c) The following …
33 V.I.C. § 2402 Tax assessor; duties
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(a) The tax assessor shall once every five (5) years, upon actual view, value and assess all residential real property as defined in Section 2301(c)(2) of this title subject to taxation in the Virgin Islands.(1) If, as a result of a reassessment, the amount of real property tax f…
33 V.I.C. § 2403 Method of making assessments
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The Tax Assessor, in making the assessment or in revising existing assessments, shall list each piece or parcel of real estate separately, and give to each its assessed value, together with a description of the parcel and the name and address of the owner, insofar as such informa…
33 V.I.C. § 2404 Assessment of property; factors to be considered
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(a) In assessing the fair market value of real property, the Tax Assessor shall use the applicable standards promulgated by the International Association of Assessing Officers (“IAAO”), and shall promulgate such rules and regulation as necessary to implement the IAAO standards fo…
33 V.I.C. § 2405 Preparation of assessment roll
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(a) The assessment of property, as the same appears on the tax roll last prepared, shall, after it has been corrected, amended and revised, as herein provided for, constitute the assessment roll for the current calendar year. As soon after January 1st of each year as possible, an…
33 V.I.C. § 2406 Oath to be taken by taxpayers upon return of schedules
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Every person liable to taxation under this subtitle shall, at the time of returning the list or schedule provided for in section 2405 of this title to the Tax Assessor, take and subscribe an oath to the following effect—I, , being duly sworn, say that to the best of my knowledge,…
33 V.I.C. § 2407 Persons empowered to administer the oath
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The Lieutenant Governor and the Tax Assessor shall administer the required oath or affirmation to any person or persons listing and valuing their property. No charge shall be made for the taking of the oath or affirmation.
33 V.I.C. § 2408 Penalty for failure to complete the assessment schedule
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(a) Whoever—(1) fails to fill out and return the assessment schedule when so required by the assessor;(2) fails or refuses to take and subscribe any oath, affidavit or affirmation required by this subtitle—shall be fined a sum equal to 10% of the real property tax assessed or $5,…
33 V.I.C. § 2409 Power of Tax Assessor to examine under oath
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In listing or valuing the property of persons who have made no return of the same, the Tax Assessor is authorized to examine under oath or affirmation any person who he may believe has knowledge of the amount and value of said property. For the taking or administering of said oat…
33 V.I.C. § 2410 Person to whom property is assessed
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The Tax Assessor shall assess all real property to the person who is either the owner or in possession of the property as of January 1, and the person appearing of record as of January 1, shall be held to be the true owner thereof, starting with the FY 2013 bills, and similarly f…
33 V.I.C. § 2411 Duty of property owners to report unassessed property
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Every person owning property liable to taxation under this subtitle which has not been assessed for taxation, or which has escaped assessment or taxation for any year, shall report the same to the assessor.
33 V.I.C. § 2412 Notice of new assessment or change in assessment
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(1) The Tax Assessor shall—(1) whenever he makes any changes in the existing assessment of property of a taxpayer; or(2) whenever he assesses the real property of a taxpayer not previously assessed; or(3) whenever he makes any changes in the list and assessment of property as ret…
33 V.I.C. § 2413 Assessment of property which has previously escaped assessment; reassessment of improperly assessed property
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(1) Whenever the Lieutenant Governor learns that any real property liable to taxation has been omitted from the assessment of property of any taxpayer for any year, he shall immediately cause the same to be assessed for the years for which such property has escaped assessment and…
33 V.I.C. § 2414 Transmittal of assessments to the Lieutenant Governor
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As fast as the assessment or revision of the assessment of property required by this subtitle is made, or at such intervals of time as may be fixed by the Lieutenant Governor, the Tax Assessor shall promptly transmit the completed schedules to the Lieutenant Governor, who shall c…