§ 2348. Assessment of land not affected by subchapter
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.
§ 2349. Annual application; form; certificate
(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 which such exemption is sought. (b) Application for […]
§ 2341. Statement of policy
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 in farmlands as open space and greenbelt areas, and that the preservation […]
§ 2342. Farmland exemption
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 horticultural purposes, as determined in accordance with the provisions of this subchapter.
§ 2343. Definitions
(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 the nutrition of plants or animals produced for […]
§ 2344. Requirements for real property
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, established pursuant to the official zoning map for the island involved, […]
§ 2345. Determination of real property area and real property use
(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 direct connection with such purposes; but real property under, and […]
§ 2305a. Tax credit under certificate of visitability
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 this title is granted to the eligible property owner for a total of ten years, unless title to the real property is conveyed to another.
§ 2305b. Federal real estate impact credit
(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 residential real property of an eligible real property […]
§ 2305c. Circuit breaker tax credit
(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 percent of gross household income, if: (1) The […]