St. John Community Information

Whether you're buying a home, selling your home or relocating to St. John, the following information, resources and tools will help to guide your decision.

 

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Winter 2010  Summer 2010

 ST. J O H N FACTS

History: US Government purchased the Danish Virgin Islands including St. John from Denmark in 1917. Naval governor ruled until 1931 when the U.S. Dept. of Interior assumed control. We are an unincorporated territory. Residents of the Virgin Islands vote for a local Governor. We cannot vote for the President of the United States. However, we do receive all other benefits awarded citizens of the (mainland) United States and we have a delegate to Congress. We also have a local legislature with island Senators.

 

National Park: In 1950, Mr. Laurence Rockefeller purchased extensive holdings on St. John including holdings of the Danish West Indies Company, developed Caneel Bay Resort and donated over 5,000 acres to the U.S. Government as public park land and Congress formed the VI National Park. The VINP holdings now include 7890 acres of land (including the recently added Maho via the Trust for Public Land), 5650 submerged acres off shore, plus approx. 13,000 acres submerged off shore as “Virgin Islands Coral Reef National Monument”


Size: St. John is approximately 19 Sq. Miles - 9 mi. long x 2 mi. wide

 

Location: Coordinates: 18.2N 64.5 W, 1075 mi. East/Southeast of Miami, 50 mi. East of Puerto Rico, 3 mi. East of St. Thomas; north is Atlantic Ocean and south is Caribbean Sea.


Highest Elevation: On St. John - Bordeaux Mountain 1277’; On St. Thomas – Crown Mountain 1550’


Population 2000 Census: St. John - 5,000+/- / St. Thomas - 48,166+/-


Climate: Average annual rainfall 43”, most rainfall occurs Sept- Oct and May-June Winter temp 77º - 84º Summer 82º - 90º


Schools: Public and Private Schools Available
STJ Private: Gift Hill School pre-K–High School
                     St. John School of the Arts established in 1970 offers other classes in art, music & dance
                     Religious affiliated: St. John Christian Academy K4-3
                     Methodist Pre-school 2-5 yrs.
STJ Public: Guy Benjamin (Coral Bay) K to 6th grade
                    Julius E Sprauve (Cruz Bay) K to 9th grade
STT Private: Montessori pre-K–12
                      Antilles pre-K–12

Religious affiliated: St. Peter & Paul K–12
                                All Saints K–12
STT Public: K–12 (numerous)
College: University of the Virgin Islands, 175 acre campus, located on St. Thomas offers both bachelor& master degree programs.  UVI is also Home of Reichhold Center for the Performing Arts

GENERAL INFORMATION



Mail Service: provided through the U.S. Postal Service as well as UPS, Federal Express, and DHL. U.S. Postal rates are the same as in the continental United States.


Financial Services: There are two banks on St. John, Scotia Bank and First Bank. Both have ATM machines.  The Westin Resort, Starfish Market and Mongoose Junction also have ATM machines.


Internet: DSL and broadband connections are widely available and there are numerous “Cyber Cafes”  Portable WiFi from your cell phone provider is also a good option.


Cellular phone: service can be obtained via Sprint, Innovative, ATT, T-Mobile, Virgin Mobile, Cingular or Centennial.


Medical Air Service Insurance: available through MASA and Medjet.


Tax and Business Info: Residents of the U.S. Virgin Islands are taxed, generally, under the same statutes, rules and regulations as residents of the United States. The principle exception is that corporations must pay a V.I. surcharge equal to 10% of their corporate income tax. U.S. citizens with U.S. Virgin Islands source income are required to file a duplicate income tax return, Form 1040, with the V.I. Bureau of Internal Revenue (VIBIR) and pay tax, if due, on their V.I. source income. Any tax paid to the VIBIR is a direct reduction of the total tax liability of the individual. Form 8689, Allocation of V.I. Source Income, is the IRS form to be used for this computation and credit.  There is no sales tax in the USVI; however, there is a tax of 4% levied on the gross receipts. Taxpayers with gross revenues under $225,000 per year can exclude $9,000 per month from their taxable base.


REAL ESTATE RELATED INFORMATION


"Stamp Tax": There is a sliding scale government transfer tax (stamp tax) on the sale of real property at closing. Recording fees of approximately $1.00/$1000 of the transaction value and attorney fees of approximately $150-$200+ /hr.

The documentary stamp a/k/a transfer stamp tax is based on purchase price:
A) 2% for property valued up to $350,000
B) 2.5% for property valued from $350,001 to $1,000,000
C) 3% for property valued from $1,000,0001 to $5,000,000
D) 3.5% for property valued over $5,000,001
Note that this law also provides that: “No real property may be valued at less than the value assessed by the Tax Assessor.”  This tax is usually negotiated as part of a purchase contract and payment is frequently split between the buyer and seller


Mortgages: Available for homes, and condos through banks and local lending institutions, including First Bank, Scotia Bank, Banco Popular, VI Merchants Bank, First Liberty, and Merrill Lynch as well as some Stateside mortgage brokers whom are also licensed in the VI.

Most banks lenders require the buyer to pay for title search, title insurance, property appraisal, as-built written certificate of property, perimeter survey with surveyor’s certificate, windstorm & earthquake insurance and lender’s attorney fees. Investment and second homebuyers can qualify for up to 70% loan to value mortgages.

Mortgages for the purchase of land are also available through First Bank and Scotia Bank


Title Insurance: Is recommended and in many cases required. Check with your local attorney for recommendations.


Property Taxes: All properties in the Virgin Islands were reassessed in 2008 and while the new system is currently under dispute taxes can be estimated as follows:
1. Un-improved non-commercial properties (i.e. land parcels) are taxed at .004956 of assessed value.
2. Improved residential properties (i.e. homes and condos) are taxed at .00377 of assessed value.
3. Commercial properties (i.e. business and commercially zoned properties) are taxed at .00711 of
assessed value.
4. Timeshares and fractional ownership properties are taxed at .01407 of assessed value.


Building costs: $400++++ per square foot for average (masonry) construction. A VI licensed architect or engineer must sign off on house plans. Building specs can be obtained from Planning and Natural Resources (DPNR) at 340-774-3320. Permits take 2-4 months for approval.


Utilities: Electric – provided by underwater cable from STT, plus back up generators in Cruz Bay and Coral Bay. Digital cable and DSL are readily available. Water – roof gutters for cistern collection and storage.


Cisten capacity Requirements:  10 gals. of cistern for every sq. ft. of roof on single story home; 15 gals. For two story home. STJ also has a desalinization plant; water cost (including delivery) is $200+ for 3000 gals (more for Coral Bay delivery).


Propane : costs per tank for stoves/ovens average $110 (100 lbs tank handles a small household for three months). There are currently government incentives offered for energy saving green initiatives.


Hurricane Facts: Damage from Hugo (1989) and Marilyn (1995) resulted in improved building codes and variable insurance rates. Georges (1998), Jose (1999) and Lenny (1999) all went right over us and left no major damage. Hurricane mitigation helps! All buildings now must be engineered to withstand a
minimum wind speed of up to 110 mph & zone 4 earthquake provisions and new building construction
must adhere to the International Building Code.


Windstorm/earthquake insurance cost: is about 1.7% to 4% of improvement value depending on construction, wood frame is higher than masonry.