The VI Consortium recently reported that Lieutenant Governor Tregenza Roach has announced that property owners whose homestead property tax credits expire in 2024 must submit a new application and provide the necessary documentation to continue receiving homestead tax credits for their 2025 property tax bill. The Tax Credit must be renewed every five years, with the next renewal deadline set for March 1, 2025.
A Homestead Property Tax Credit is only applicable if the applicant is the legal owner of the property and uses it as their primary residence. Property owners cannot claim a homestead credit for more than one residence or apply for homestead credits in other jurisdictions. Additionally, the credit cannot reduce the tax obligation below the minimum of $180.00. Any changes to homestead status must be reported to the Office of the Tax Assessor by March 1 of each year.
Applications and homestead tax credit requirements are available online at ltg.gov.vi and propertytax.vi.gov, as well as at the Offices of the Tax Assessor on St. Thomas, St. Croix, and St. John.
Property owners eligible for the General Homestead Tax Credit ($400.00) may also apply for one additional credit like Veteran Tax Credit ($650.00), Senior Tax Credit ($500.00), and Disability Tax Credit ($500.00). See the VI Consortium full article and the St Croix Source full article for details.
Welcome to our January 2025 St Croix Real Estate Recap! If you are considering listing your property on St Croix, take a look at the latest sales data, inventory, and days on market for the St. Croix, USVI real estate market. Download our newest Coldwell Banker real estate reports. There is a report for each category: Homes & Condos, Condos, Homes, and Land!
If you are not familiar with with the implications of the data, please give us a call or email us directly with any questions. We are Accredited Buyer’s Representative (ABR) and Seller Representative Specialist (SRS) and have the experience and local knowledge to help you in every step of the process. We can help you narrow down neighborhoods based on your priorities. We can also advise you on the market trends in your desired neighborhoods.
Open the St Croix Real Estate Recap by clicking on links below:
Question: “What are some issues found in home inspections?”
Our Answer:
The issues found during home inspections can vary. Some of the problems Inspectors look for are:
Structural or foundation problems.
Windows and doors operating correctly.
Safety issues such as too few smoke alarms, or tripping hazards in floors or staircases. This could include cracked or missing tiles in the floor.
Potential problems in a home’s exterior, roof, plumbing, electrical systems, cisterns, pool equipment, air conditioning, and interiors.
Sometimes additional inspections by specialists in a certain field are recommended to get more information which may include costs of repairs. The most common are:
Air conditioning
Pool equipment
Cisterns
Roof
Structural
Appliances
Electrical
Plumbing
We also discuss home inspections in our Youtube video here:
Contact us with any questions about real estate on St. Croix!
After a 5-year hiatus, JetBlue has returned to St Croix in December with New Flight to St Croix which is great news for the island and tourism. “JetBlue’s relaunch of service to St. Croix is part of JetBlue’s significant network enhancements in San Juan and focus on leisure and VFR (visiting friend and relatives) routes, aligned with the airline’s JetForward strategy,” the airline said in a statement in response to questions from The Daily News (read full article here).
New flight to St Croix include 1x/daily flights nonstop service to/from Luis Muñoz Marín International Airport (SJU) in Puerto Rico to St Croix, USVI started on December 12, 2024. See photos of the celebration at Henry E. Rohlsen Airport on St. Croix and read the full article by St Croix Source here.
Fantastic tourism news! The VI Consortium shared the USVI had a record-breaking 2024, including over 932,000 air arrivals, a 9.8% rise in cruise passengers, and accolades like the world’s best beach. The V.I. Department of Tourism announced that the U.S. Virgin Islands has reached new milestones in tourism, with record-breaking passenger arrivals reflecting the growing popularity of St. Croix, St. Thomas, and St. John as premier Caribbean destinations. D.O.T. revealed that 2024 was a year of exponential growth for the territory, driven by innovative strategies, new airline routes, and strengthened cruise partnerships.
The territory also received multiple prestigious accolades in 2024, further solidifying its status as a top destination. These include:
Best Caribbean Cruise Destination 2024 by Porthole Cruise and Travel Magazine
Caribbean Culinary Destination (St. Croix) and Caribbean Yachting Destination of the Year by Caribbean Journal
Top 10 Best Beach for Honeymoon Beach, St. John, by USA TODAY 10 Best Readers’ Choice Travel Awards
Number 1 Best Beach in the World 2024 for Trunk Bay, St. John, by The World’s 50 Best Beaches
Number 1 Domestic Trending Summer Destination for St. Thomas by Expedia 2024 Summer Outlook
Experiential Marketing Bronze Award for the Caribbean Way of Sports & Lifestyle Tourism Integrated Campaign by HSMAI Adrian Awards
