Residents fear revaluation will bring tax hike

From the VI Daily News:

ST. JOHN - The V.I. Tax Assessor's Office will begin reassessing property values of St. John residential properties in January, and government officials fielded questions and concerns from island residents Thursday night about the process.

The revaluation, which could take until mid-2006 to complete, is part of an ongoing territorywide project. The Tax Assessor's Office is currently doing residential property revaluations on St. Thomas and St. Croix, and commercial property assessments were completed in May territorywide.

More here.