U.S. Virgin Islands Property Tax Incentive

VI Property Tax Incentive commercial industrial nonprofit residential schools state government institutional

Program Details

Program ID: 5498
Last Updated: 1/2/2025

Eligibility

Eligible Sectors

commercial industrial nonprofit residential schools state government institutional

Eligible Technologies

solar - passive geothermal electric solar photovoltaics wind (all) biomass hydroelectric municipal solid waste landfill gas tidal wave ocean thermal wind (small) hydroelectric (small)

Program Summary

AB 7586 (The FIT Act) establishes that renewable energy system must be counted as personal/chattel property instead of real property for tax purposes. Renewable energy systems do, however, count as real property for insurance purposes.

Contact & Resources

Additional Resources

https://ltg.gov.vi/press-release/property-tax-credits-deadline-for-new-homeowners/

Please verify current program details with the administering agency before making any financial decisions.