$2,700 = Property taxes (at 1.5 percent on $180,000 assessed value)
$12,577 = Total deduction
Then, multiply your total deduction by your tax rate.
For example, at a 28 percent tax rate: 12,577 x 0.28 = $3,521.56
Note: Mortgage interest may not be deductible on loans over $1.1 million. In addition, deductions are decreased when total income reaches a certain level.
If you are looking to buy a home in the US Virgin Islands, be sure to contact the team at Sea Glass Properties to help you through every step of the way. www.seaglassproperties.com, or email@example.com.