§ 2401. Definition of immovables
(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 are immovables— (1) land, buildings and […]
§ 2402. Tax assessor; duties
(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 for a homestead or unimproved property […]
§ 2403. Method of making assessments
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 information can be obtained. Where real property embraces […]
§ 2404. Assessment of property; factors to be considered
(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 for all classifications of property set forth in section 2301(b) of this title. (b) […]