So far, we know (or have been told) the Virgin Islands will send the property tax bill for 2007 next month. Then the bill for 2008 will be sent in May or June. The valuation will be unchanged from the 1998 figure, much lower than the Bearing Point revaluation of a few years ago which saw St. John values had tripled or more.
But here's the great unknown. According to the Assessor, as reported by the St. John Source, "Properties in the territory will be reassessed, and future bills will be based on those real property values."
In other words, there will be another re-assessment; the multi-year Bearing Point study will be forgotten. What's the likelihood the VIs can get a complete revaluation done in time to send out bills at new values in 12 months? Those with experience on the island say, 'Fat chance." Which leads to an expectation that the 2009 and 2010 bills may not go out next February.