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Now is the Time to Buy Property in the USVI

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Blog Photo: 
May, 08 2018
#USVIStrong, Virgin Islands Real Estate, Virgin Islands Recovery, Virgin Islands Tax Incentives

We have great news for the U.S. Virgin Islands—Governor Kenneth Mapp has awarded $530k for Phase One of the $1.2 Billion new road system project. The money will be spent to help pave the roadways of St. Croix, St. Thomas, and St. John.

The money will be spent to help pave the roadways of St. Croix, St. Thomas and St. John. New jobs are opening up due to this massive project which means unemployment is decreasing and will continue to do so. Governor Mapp announced that Phase One ($530k) of the 1.2 billion has been awarded to the Islands, in addition to, the Department of Housing and Urban Development (HUD) that is a record setting $1.6 billion specifically for Disaster Recovery Programs. Some of the funding is going to address seriously damaged housing, businesses and infrastructure including other major damage from previous natural disasters. In addition, this money is helping to fund new hospitals, schools and the electrical infrastructure.

Now is the best time to buy in to the exclusive properties on the U.S. Virgin Islands. The U.S. Treasury has also announced and approved capital tax break zones known as [TC1] which reduce taxes in designated areas in the U.S. Virgin Islands. This, along with Lieutenant Governor Osbert Potter announcing property tax amnesty, will reduce their total tax burden.

As the money has begun to be available for U. S. Virgin Islands, it is once again creating a boom in tourism, hospitality jobs and opportunities for all. Cruise ships are lining up again and sailing in from all over the world to be the first ones to see the Islands prospering again. Begin your property search here.