Last Updated March 5, 2024
Program Overview
Category:
Financial Incentive
State:
Virgin Islands
Incentive Type:
Property Tax Incentive
Administrator:
N/A
Start Date:
N/A
Expiration Date:
N/A
Applicable Sectors:
N/A
Eligible Renewable/Other Technologies:
N/A
Summary
AB 7586 (The FIT Act) establishes that renewable energy system must be counted as personal/chattel property instead of real property for tax purposes. Renewable energy systems do, however, count as real property for insurance purposes.