USVI-On-Line

A workshop will be held by the IRB on the new tax imposed on timeshare owners:

http://stthomassource.com/content/2017/ ... re-owners/

A workshop? Whatever for? It is a tax, passed along to visitors, that will negatively affect the tourism of the islands. When I lived on island, I saw that the government was only interested in pursuing the cruise ship tourists. The islands have some of the best diving and water sports in the Caribbean, yet never promoted it. The government has their wish now....another tax they can skim off and total reliance on cruise ship tourism. Why would anyone want to own/invest in rental real estate in the islands? So many other wonderful islands to choose from, most with no restrictions on foreign ownership of property.

I could rant and rave about this for hours but it is not like timeshare owners do not pay taxes. Every owned interval has a title/deed. So every timeshare owner pays property taxes just like all other property owners do on the island. We are just being taxed again for visiting our property.

The structural deficit of approximately $110 million represents about what the Hovensa refinery pumped into the VI economy each year when it was running at full bore. The VI government never adjusted its' budget to the refinery's closing. But maybe our $25 a day will pay for getting the new ferries back in service or another night at the Ritz Carlton for Governor Mapp.