U.S. Virgin Islands Property Tax Incentive

Under the FIT Act, renewable energy systems installed on your U.S. Virgin Islands property are classified as personal property rather than real property for tax assessment purposes, potentially reducing your property tax burden. To apply, contact the Tax Assessor's offices on St. Thomas, St. John, or St. Croix, or call (340) 774-2991 or (340) 773-6449 for details on eligibility and the application process.

Help customers understand that renewable energy installations—including solar PV, geothermal, wind, and other qualifying systems—receive favorable tax treatment under the FIT Act by being assessed as personal property instead of real property, making projects more economically attractive. Systems still count as real property for insurance purposes, so advise clients accordingly.

AB 7586 (The FIT Act) mechanically shifts renewable energy system classification from real to personal property for tax assessment across all sectors (residential, commercial, industrial, nonprofit, institutional, and state government), which reduces assessed values and property tax liability while preserving real property status for insurance. The program covers broad technology classes including solar (passive and PV), geothermal, wind, biomass, hydroelectric, and ocean thermal systems. Implementation occurs through the U.S. Virgin Islands Tax Assessor offices with support from the Office of the Lieutenant Governor.