Date: January 13, 2005
Contact: Angela Johnson
Phone: 340-773-6449
HOMESTEAD EXEMPTION BENEFITS AVAILABLE
Lieutenant Governor Vargrave Richards reminds all Virgin Islands homeowners
that they may qualify for Homestead Exemption benefits, which allow
qualified residents to reduce their property tax payments.
These exemptions are offered in several categories:
* General Homestead Exemption – For property owners who have occupied
their homes as a primary residence as of Jan. 15, 2005. Maximum exemption:
$250.
* Veterans’ Exemption – For property owners who have occupied
their homes as a primary residence as of Jan. 15, 2005, and were honorably
discharged from the U.S. Armed Services. Maximum exemption: $312.50.
Applicants must provide a copy of DD-214 honorable discharge document.
* Elderly Exemption – For property owners who occupied their homes
as a primary residence as of Jan. 15, 2005, who are 60 years or older
and whose income does not exceed $10,500 (excluding Social Security).
Proof of age and proof of income are required. Maximum exemption: $375.
Individuals presently receiving the above-cited Homestead Exemptions
should not reapply unless their primary residence by which they were
formerly eligible was sold and they have subsequently purchased another
home as a primary residence. Additionally, homeowners can also apply
for one of the new exemptions cited below:
* Disabled Persons Exemption – For disabled persons who own and
occupied their homes as a primary residence as of Jan. 15, 2005. Granted
regardless of age and disability, provided individual income is no more
than $20,000 and total household income does not exceed $40,000. Proof
of disability and proof of income are required. Maximum exemption: $250.
Property owners may qualify for this exemption in addition to the General
Homestead, Veterans’ or Elderly Exemptions.
* Additional Senior Exemption – For property owners who occupied
their homes as a primary residence as of Jan. 15, 2005, who are age
65 and older, and whose individual income is no more than $20,000 and
total household income does not exceed $40,000. Proof of age and proof
of income are required. Maximum exemption: $250. Property owners may
qualify for this exemption in addition to the General Homestead or Veterans’
Exemption.
Interested persons must submit applications to their respective Tax
Assessor’s Office on St. Croix, St. Thomas or St. John no later
than April 30, 2005. For additional information, call the Office of
the Lieutenant Governor, Division of the Tax Assessor, at 773-6459 in
Christiansted; 772-3115 in Frederiksted; 776-8505 on St. Thomas; or
776-6737 on St. John.
