|Affordable Renting Housing||$6.15|
|1/1||Assessed values set for next year.|
|1/20||Second-half year bills mailed.|
|2/20||Second-half year payments due.|
|3/15||Assessment notices mailed.|
|4/9||Deadline for filing appeals.|
|6/20||Tax rate set by County Council.|
|6/30||End of tax year.|
|7/1||Beginning of tax year.|
|7/20||First-half year bills mailed.|
|8/20||First-half year payments due.|
|9/1||Deadline for filing dedication petitions.|
|9/30||Deadline for filing solar water credit.|
|12/31||Deadline for filing exemption claims.|
The law allows just one (1) home exemption; if a husband and wife live apart and own separate homes, each shall be entitled to one-half (1/2) of one exemption.
In order to qualify for a home exemption, you must own and occupy the property as your principal residence with the intent to reside on the island 200 days in a calendar year.
The home exemption is deducted from the assessed value and the homeowner is taxed on the balance. Current home exemptions by age group: $40,000 (<60 yrs); $80,000 (60 - 69 yrs); and $100,000 (>70 yrs).