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Prices of rentals on St. John are poised to up, up and up! Property taxes for owners (I'm one) are "fixing to go up by a factor of at least four or in my case that's what happened. Before they had me at raw land but for 2005 during the construction of the house they raised my assessed value by four times the previous rate. Now, I know everyone wants a bargain, me included, but when property taxes go up by thousands of dollars that translates into substantially higher rentals for everyone! Figure for a good to great 2 bedroom the taxes will very likely be in the range of $10K to $12K a year over old rates which were set around 1996. Everyone is in for a very big shock when the new rates go into effect based on 2006 assessments next year. Too bad, it will slow the economy and likely dissuade some people coming to the island from the new rates owners are forced to charge to just keep even.
Ouch! That's an astronomical increase. And yes, it does get passed on to visitors. I think it will make it harder for regular workin' joes like ourselves to ever be able to afford St John.
Hi Keep Left,
You have recieved the new reassesed (forgive my spelling, my ck spelling hasn't been working on this sight lately) property tax bill? Our last bill, so far, is the same, tho we are told the new rates will come in June! My finace' is scared to say the least! Didn St.John get theirs already? Fill me in!
Sherri
Wouldn't assessment go up on land that was once just a lot and now has a house on it? I don't find that strange.
Linda
I would say normally you are right - house on the raw land higher assessment. However, in my case the assessment value was changed while the house was still under construction without a Certificate of Occupancy. I can't imagine with next assessment will be now that the house is done and the Certificate of Occupancy was issued!
P.M. me as i cant you for some reason
GO BUCS
Rental companies have raised their rates already a lot for 2008.
Big increase does not allow us to come for Spring Break now which is very upsetting.
Only time we can all travel together as a family.
At this point, we are not intending to raise our rates for 2008.
Keep Left, I find it hard to believe that they will raise your tax bill anymore, tho they shouldn't have raised it until your house was done! We're all keeping our fingers crossed!
Gobucs, I am guessing you were talking to me in your post? I will drop you a line from my e-mail asap! 🙂
