USVI Public Records

Document text

OFFICE OF THE LIEUTENANT GOVERNOR REAL PROPERTY TAX DIVISION OFFICE OF THE TAX COLLECTOR BRENT A. LEERDAM TAX COLLECTOR 2023 ANNUAL SPRING REVENUE ESTIMATING CONFERENCE MARCH 14, 2023 REVENUE ESTIMATE Office of the Lieutenant Governor – Real Property Tax Division Office of the Tax Collector REVENUE BREAKDOWN Revenue Category Project Count (If Applicable) Est. Revenue Fiscal Year Delinquent Account Collections Occurs All Year $31,000,000.00 2024 Current Year Collections June 1 – August 30, 2024 $33,000,000.00 2024 Delinquent Account Collections Occurs All Year $33,000,000.00 2025 Current Year Collections June 1 – August 30, 2025 $35,000,000.00 2025 FY2024 and FY2025 Total Estimated Revenue Revenue Summary FY2024: $64,000,000.00 Highlight 1: FY2024 Collections from Delinquent Accounts - $31,000,000.00 Highlight 2: FY2024 Collections from Current Year Billing - $33,000,000.00 FY2025: $68,000,000.00 Highlight 3: FY2025 Collections from Delinquent Accounts - $33,000,000.00 Highlight 4: FY2025 Collections from Current Year Billing - $35,000,000.00 FISCAL YEAR DELINQUENT TAX COLLECTION CURRENT YEAR TAX BILLS TOTALS FY2025 FORECAST $33,000,000.00 $35,000,000.00 $68,000,000.00 FY2024 FORECAST $31,000,000.00 $33,000,000.00 $64,000,000.00 FY2023 FORECAST $28,000,000.00 $33,000,000.00 $61,000,000.00 FY2023 Actuals as of February 28, 2023 $6,625,997.55 $6,625,997.55 FY2022 FORECAST $25,000,000.00 $33,000,000.00 $58,000,000.00 FY2022 ACTUALS $28,711,526.36 $29,008,077.50 $57,719,603.86 FY2021 FORECAST $20,000,000.00 $33,000,000.00 $53,000,000.00 FY2021 ACTUALS $29,255,393.47 $25,119,610.63 $54,375,004.10 FY2020 FORECAST $23,000,000.00 $31,650,000.00 $54,650,000.00 FY2020 ACTUALS $27,913,277.68 $37,780,274.48 $65,693,552.16 As of 03/01/2023 REAL PROPERTY TAX FORECAST & ACTUALS OFFICE OF THE LIEUTENANT GOVERNOR DIVISION OF REAL PROPERTY TAX OFFICE OF THE TAX COLLECTOR $0.00 $10,000,000.00 $20,000,000.00 $30,000,000.00 $40,000,000.00 $50,000,000.00 $60,000,000.00 $70,000,000.00 $80,000,000.00 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 RPT Projected/Actual Revenue Projected Collections Actual Collections OFFICE OF THE TAX COLLECTOR Delinquent Collections • Send Bill Notification to the Address of delinquent property’s Owner of Record o We encourage property owners that may have changed their mailing address since property was conveyed to them to contact the Office of the Tax Assessor to update their mailing address o We encourage family and interested parties of deceased property owners, that know of real property that is involved in a probate process to contact the Office of the Tax Collector and provide a copy of the Probate Order • Real Property Tax Division has launched the Citizen Access Portal, which provides easy, online tax management access to property owners/managers located anywhere in the world. https://propertytax.vi.gov o We have made available free online Tax Status Reports, which detail all taxes owed, delineated by tax year o Online tax payments can be made on the portal o We have also enabled the online ability of property owners/managers to start and maintain a payment plan for delinquent property taxes • We make efforts beyond measures required by law, to notify property owners of record of delinquency, prior to beginning any Final Collection Activity o We provide waiver of interest and penalty to assist delinquent property owners o Outreach efforts continue to encourage the use of payment plans by property owners with delinquent property taxes o Any property owner that establishes a payment plan for delinquent property (prior to the publication of a Final Collection Activity List) and maintains the payment plan in current payment status, will not be included in Final Collection Activity Town Area Individual Tax Records Taxes Penalty Interest Sewer Fees Estimated Total Due St. Thomas 132687 $46,353,751.53 $5,002,685.59 $11,128,180.08 $3,337,232.67 $65,821,849.87 Christiansted 29446 $14,325,502.22 $1,859,129.14 $3,463,162.15 $608,467.62 $20,256,261.13 St. John 18061 $24,243,377.36 $142,110.64 $5,182,896.90 $374,712.86 $29,943,097.76 Fredricksted 17216 $6,871,289.43 $1,234,736.91 $1,619,663.32 $478,455.94 $10,204,145.60 Water Island 215 $335,158.71 $1,075.00 $74,946.18 $4,637.82 $415,817.71 Total 197625 $92,129,079.25 $8,239,737.28 $21,468,848.63 $4,803,506.91 $126,641,172.07 OFFICE OF THE TAX COLLECTOR Total Delinquencies By Town Area REAL PROPERTY TAX DIVISION OFFICE OF THE TAX COLLECTOR Tax Year Amount Billed Year of Billing - From June 1 - September 30 Next Fiscal Year Next Fiscal Year Next Fiscal Year Total Collected To Date 3 Year Collection Percentage Rate 2020 $51,085,936.04 $35,635,576.13 $6,043,329.06 $1,934,845.82 $334,993.95 $43,948,744.96 86 2021 $51,545,762.15 $33,789,742.09 $6,553,070.31 $745,414.69 $41,088,227.09 80 2022 $54,485,117.17 $34,923,280.21 $3,224,988.65 $38,148,268.86 70 2023 June 2023 $0.00 2024 June 2024 $0.00 OFFICE OF THE LIEUTENANT GOVERNOR REAL PROPERTY TAX DIVISION 3 YEAR COLLECTION RATE OFFICE OF THE TAX COLLECTOR OFFICE OF THE LIEUTENANT GOVERNOR REAL PROPERTY TAX DIVISION OFFICE OF THE TAX COLLECTOR HOW WE SERVE Current RP Taxes Delinquent RP Taxes Other Services Planned Initiatives Bill Issuance by June 1 Free Tax Status Reports RPT Lien Cancellation More Online Payment Types Available Online Enhanced Outreach Credit Card Payments RP Probate Registration Expedited RPT Clearance Certificates Available Online Electronic Bill Distribution Payment Plans RPT Payment Counseling Email Opt-In Campaign Available Online Delinquency Publications RPT Clearance Certificates Available Online OFFICE OF THE TAX COLLECTOR THANK YOU FOR LISTENING TODAY! ANY QUESTIONS?