LIEUTENANT GOVERNOR VARGRAVE RICHARDS INTRODUCES
V.I. REVALUATION TEAM AT OPEN HOUSES

Lieutenant Governor Vargrave Richards will host two public functions to introduce the V.I. Revaluation Team to commercial property owners, realtors, real estate appraisers, and other commercial businesses and interested parties.

The first event will take place on St. Thomas, Tuesday, December 14, from 5-7 p.m. at the V.I. Property Revaluation office, across from the Tax Assessor's Office at the Builder's Emporium in Sugar Estate behind the Roy L. Schneider Hospital.

St. Croix property owners will have the opportunity to meet the V.I. Revaluation team at an Information Forum on Wednesday, December 15, from 5-7 p.m. at the Turtle's Deli Courtyard, located at 55-56 Company Street, Christiansted (the old Indies location).

The V.I. Revaluation Team has begun data collection on property information for commercial properties on St. Thomas and St. Croix. The information being collected is required for the V.I. Property Revaluation as a result of the federal court decision requiring the Territory to update its property tax database and values.

These laws require that property be taxed based on actual market value. Several jurisdictions on the U.S. mainland and throughout the Caribbean have undertaken property revaluation projects to ensure tax equity.