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Web Site Informs on V.I. Property Revaluation

Dec. 22, 2004 – The Office of the Lieutenant Governor has launched a new Web site, "www.vipropertyrevaluation.com", as part of its effort at informing the public of the property revaluation project.
The V.I. Property Revaluation project, which began September of this year, came as a result of a recent court order mandating that all property in the territory be revalued. (See " Property Tax Valuation to Undergo Major Revamp").
"As a result of the order, I am determined to lead the Virgin Islands into a modern property tax assessment administration system," Lt. Gov. Vargrave Richards stated in his message featured on the Web site. "All property information will be updated and computerized, and all property will be revalued."
Richards stated further the Office of the Tax Assessor, which he oversees, would also be equipped with a Computer Assisted Mass Appraisal system that is integrated into all aspects of property tax administration to include billing and collection of the tax, as well as the cadastral system.
The Web site also features a host of frequently asked questions and provides detailed answers to each.
Some of the questions include:
· How long will it take?
· Will property taxes increase?
· How are property taxes currently calculated in the Virgin Islands?
· What factors will be considered when assessing the value of a property?
· Does the data collector have to come into my home?
· What if the data collector arrives and nobody is home?
· How will disagreements about the value of a property be handled?
Richards said, through a staff member, Wednesday that new features would be added to the site eventually to update individuals on the progress of the revaluation project.
He added, "[The revaluation project] is progressing according to plan."
Currently, commercial properties throughout the territory are being inspected and revalued. Beginning March of 2005, residential properties will be revalued.
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