Collected To

Collection: Hearing Records
Sub-shelf: Budget, Appropriations and Finance
Kind: Hearing Record
Entity: Legislature of the Virgin Islands
Date: 2025
Type: Supporting Documents
Pages: 1
Text: Native Text

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Original source: https://legvi.org/committeemeetings/Budget,%20Appropriations%20and%20Finance/2025%20Budget%20Meetings/February%2018,%202025/Supporting%20Documents/OTC%20Real%20Property%20Tax%20Info.pdf

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A proceeding of the Legislature of the Virgin Islands, open to the public under 3 V.I.C. § 881, which reaches any committee of any branch of government and permits the news media to publish what it records.

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Document text

Month October November December January February March April May June July August September Actuals Collected To Date Forecast Target of 5% YoY Increase over FY2024 Monthly Collections $1,870,220.44 $1,235,849.83 $1,534,414.25 $1,110,782.97 $64,000,000.00 Cumulative total $1,870,220.44 $3,106,070.27 $4,640,484.52 $5,751,267.49 $5,751,267.49 $5,751,267.49 $5,751,267.49 $5,751,267.49 $5,751,267.49 $5,751,267.49 $5,751,267.49 $5,751,267.49 $5,751,267.49 Percentage of Annual Target 2.92% 4.85% 7.25% 8.99% 8.99% 8.99% 8.99% 8.99% 8.99% 8.99% 8.99% 8.99% 8.99% Data Source CAP CAP CAP CAP CAP CAP CAP CAP CAP CAP CAP CAP Month October November December January February March April May June July August September Actuals Issued to Date Forecast Target of 5% YoY Increase over FY2024 New IPAs 110 24 40 45 570 Cumulative total 110 134 174 219 219 219 219 219 219 219 219 219 219 Percentage of Annual Target 19.30% 23.51% 30.53% 38.42% 38.42% 38.42% 38.42% 38.42% 38.42% 38.42% 38.42% 38.42% 38.42% Data Source CAP CAP CAP CAP CAP CAP CAP CAP CAP CAP CAP CAP FY2025 Goal - To increase year over year tax collections by 5% annually FY2025 Goal - To increase number of Installment Payment Agreements (IPAs) issued by 5% annually CAP=Tax Management Subsidiary Ledger CAP = Tax Management Subsidiary Ledger Office of the Tax Collector - Real Property Tax Division - A Division of the Office of the Lieutenant Governor The total amount of active installment payment plans as of 2/7/2025, is 1,078, valued at $9,699,264.58. Of these active payment plans, $6,309,640.25 has been already been paid. The total amount of delinquent taxes owed to GVI as of 2/7/2025 is $125,209,915.19, represented by over an estimate of 25,000 unique property parcels. For FY2025, as of 2/7/2025, the Office of the Tax Collector (OTC) has issued 470 Tax Clearance Certificates.