Act No. 8036 — An Act amending 33 Virgin Islands Code, chapter 81 relating to real property tax credits and chapter 85, section 2402 relating to the Tax As
ACTNO, 8036 BILL NO. 32-0030 THIRTY-SECOND LEGISLATURE OF THE VIRGIN ISLANDS Regular Session 2018 An Act amending 33 Virgin Islands Code, chapter 81 relating to real property tax credits and chapter 85, section 2402 relating to the Tax Assessor's duties to assess commercial property to amend the definition of commercial property to include residential buildings with five or more units, and relating to the Tax Assessor's duty to grant tax credits to property owners in historic districts in which tax credits are available wna(Jeoe Be it enacted by the Legislature of the Virgin Islands: Title 33 Virgin Islands Code, chapter 81 is amended by adding section 2305b to read as follows: “§$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 owner. …
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