Act No. 6991 (27th Legislature) — An Act generally amending title 33, chapters 81, 83, 85, 87, and 89, and other pertinent portions of the Virgin Islands Code relating to the
ACTNO. 6991 BILL NO. 27-0165 TWENTY-SEVENTH LEGISLATURE OF THE VIRGIN ISLANDS Special Session 2008 An Act generally amending title 33, chapters 81, 83, 85, 87, and 89, and other pertinent portions of the Virgin Islands Code relating to the system of real property taxation in the Virgin Islands; making appropriations to the Board of Tax Review, the Tax Assessor’s Office and the Office of the Lieutenant Governor; and for other related purposes ---0--- Be it enacted by the Legislature of the Virgin Islands: SECTION 1. Title 33 Virgin Islands Code, chapter 81, section 2301 is repealed and reenacted with amendments to read as follows: : “§2301 (a) All real property in the Virgin Islands subject to taxation must be assessed at 100 percent of its fair market value as calculated by using the assessment methods set forth in sections 2403 and 2404 of this chapter; (b) | The Tax Assessor shall levy and collect on real property a tax at the mil rates for each classification of real property specified in this subsection as follows: (1) unimproved non-commercial real property, at .004946; (2) resi …
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