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 Residential ($400,000 to $999,999) |
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For your information on st. croix real estatePROPERTY TAXES: Levied at 1.25% / $1,000.00 of assessed value of the property. Assessed value is 60% of actual value. An easier mathmatical extrapolation of this formula is 0.75% of the selling price. For more information, please call the VI Tax Assessor's Office at (340) 773-6459 for Christiansted properties or (340) 772-3115 for Frederiksted properties. MORTGAGES: Available through Banks and lending institutions, including First Bank VI (formerly Chase) , Scotia Bank, Allied Mortgage Capital Corp , Flagstar, First Liberty Mortgage Co.& Merrill Lynch. Most banks require the buyer to pay for the title search, title insurance, property appraisal, and written certificate of surveyor's property, perimeter or "as-built" survey and the bank attorney fees. Many are able to pre-qualify you over the phone - give them a call before you start home shopping -you might be able to afford more than you thought! Paula Cumbermack paula.cumbermack@firstbankvi.com at First Bank VI (340) 772-6208, Denis Schwaab schwaab@attglobal.net at Allied Mortgage (340) 713-8263, James Brisbois at Bank of St. Croix (340) 773-8500 or Michael Armendariz michael.armendariz@flagstar.com at Flagstar VI Home Loans (340) 773-8100 or Brice McLaughlin brice@firstlib.com of First Liberty Mortgage Co 340-774-1101 are extremely helpful! TITLE INSURANCE: Available and recommended. For more information call Virgin Islands Title & Trust Co (340) 773-0570 or Island Title (340) 773-3930. TRANSFER TAX (STAMP TAX): All real estate transactions involving residences and/or land sales require a tax, which is based on the purchase price. Please be advised that pursuant to Act No. 6630 (Bill No. 25-0121) effective December 23, 2003, the documentary stamp a/ka transfer stamp tax has been increased as follows: A) 2% for property valued up to $350,000; WINDSTORM/EARTHQUAKE INSURANCE: About 2% -2.65% of insured value or replacement cost for masonry/stone, more for wood frame construction. For questions regarding windstorm insurance call Marshall & Sterling (340) 773-2170 or People's Insurance (340) 772-2400VI ZONING, BUILDING AND HOUSING LAWS AND REGULATIONS: Office of the Lt. Governor, King Street, Christiansted. Telephone 340-773-6459. BUILDING SPECS: All new buildings must withstand a minimum wind speed of up to 110mph and Zone 4 earthquake provisions. BUILDING COSTS: From $200.00 per sq. ft. Contact Northshore Partners (340) 778-2446, Hutchins Construction (340) 778-7811, RJ Quinn & Company (340) 773-4459 ,Custom Builders (340) 773-8897, All Points Construction(340) 773-4558 or Tip Top Construction (340) 773-5252 for more information concerning building costs, design, etc. ELECTRIC: Supplied by Virgin Islands Water & Power Authority. Their office is located in Estate Diamond cross from the Sunny Isle shopping center. Telephone 340-773-2250 or 340-778-5064. After you have purchased a residence, hooking up your electric is easy…all you need is a photo ID, copy of your deed, $125.00 deposit and a copy of the previous owner's old WAPA bill with their account number on it will expedite the process. WATER: Collected from the roof and stored in a cistern in most areas. Those who live within city limits have access to city water and sewer. Most condominiums have common cisterns and may charge a water fee. Required capacity is 10 gal. of cistern per every square ft. of roof on single homes and 15 gal. for a two story home. TAXES AND BUSINESS INFORMATION: USVI residents taxed on worldwide income according to standard (IRS) code. Non-resident US citizens taxed on income from USVI sources only. Corporations have a 10% surcharge on income with the exception of those enjoying investment incentives. Businesses pay 4% gross receipts tax on money earned from all transactions including services. LOCATION: St. Croix is located 1075 miles South East of Miami, 90 miles East of Puerto Rico, 30 miles Southwest of St. Thomas. It lies entirely surrounded by the Caribbean Sea and the Atlantic Ocean is to the North. POPULATION: The 2000 census reports approximately 60,000 residents on St. Croix, approx. 55,000 on St. Thomas and 5000 on St. John. CLIMATE: The average rainfall is 44 inches, this coming mostly through Sept-Oct. and May-June. The winter temperature is 70° to 84° and the summer temperature is 82° to 93°. MAIL: Service provided through the US Postal Service as well as UPS, Fed Ex, DHL and American Airlines. INTERNET: Connections can be made through AOL, ATT, and CompuServe/AOL, Virgin Islands Paradise Freenet free in line service. Western Union, World Communications and AT&T provide international telex and telegraphic services. DSL service and T-1 broadband is provided by Innovative Telephone; call Wayne Sargeant at (340) 778-9000 or (340) 712-5034. MEDICAL: Air Services Insurance is $260.00 annually for a family. Juan Luis Hospital located in Diamond Ruby and Ingeborg Nesbitt Clinic is located on Strand Street, Frederiksted. There is a large medical complex located at Sunny Isle, just down the road from the Juan Luis Hospital filled with doctors, dentists, clinical laboratory, radiologist, and Optometrist w/ a complete vision center. NEWSPAPER: The Daily News, The Tradewinds, St. John Times and the St. Croix Avis are the local papers. USA Today, The Wall Street Journal and several US metropolitan and Puerto Rico newspapers are flown in daily. VEHICLE SHIPPING: From West Palm, Florida to St. Croix costs approx. $1000.00 Cars made within in the US are duty free; if the vehicle is manufactured outside the US there is a 6% duty and if it is made with foreign parts there is a 3.5% duty. Those figures are calculated by the US Customs agent based on Blue Book value. For more info on shipping call Continental Movers (340) 773-2105 or O'Neale's Trucking & Trailer Transport, Inc. (340) 778-1111. |
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