Solar & Battery Regulation & Incentive Programs

U.S. Virgin Islands Property Tax Incentive

Program Overview

Category:: Financial Incentive
Program Type:: Property Tax Incentive
Implementing Sector:: State
State:: Virgin Islands
Website:: https://ltg.gov.vi/press-release/property-tax-credits-deadline-for-new-homeowners/
Incentive Amount:: Not specified
Maximum Incentive:: Not specified
Eligible System Size:: Not specified
Equipment Requirements:: Not specified
Applicable Sectors:: Commercial, Industrial, Nonprofit, Residential, Schools, State Government, Institutional
Last Updated:: 06/29/2020

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.

Authorities

Name	Enacted Date	Effective Date	Expired Date
12 V.I.C. § 1168	04/29/2014	05/16/2014