Details for NOTICE OF PROPOSED REAL PROPERTY TAX INCREASE

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WASHINGTON COUNTY, VIRGINIA NOTICE OF PROPOSED REAL PROPERTY TAX INCREASE AND PUBLIC HEARING Notice is hereby given that the County of Washington, Virginia proposes to increase property tax levies. 1. Assessment Increase: The total assessed value of real property, excluding additional assessments due to new construction or improvements to property, exceeds last year's total assessed value of real property by 8%. 2. Lowered Rate Necessary to Offset Increased Assessment: The tax rate that would levy the same amount of real estate tax as last year, when multiplied by the new total assessed value of real estate with the exclusions mentioned above, would be $0.58 per $100 of assessed value. This rate will be known as the "lowered tax rate." 3. Effective Rate Increase: The County of Washington, Virginia, proposes to adopt a tax rate of $0.68 per $100 of assessed value. The difference between the lowered tax rate and the proposed tax rate would be a $0.10 per $100 or 17.25%. The difference will be known as the "effective tax rate increase." Individual property taxes may, however, increase at a percentage greater than or less than the above percentage. The Effective Rate Increase is based on only if the Board of Supervisors were to fully fund all funding requests made to the County. 4. Proposed Total Budget Increase: Based on the proposed real property tax rate and changes in other revenues, the total budget of the County of Washington may exceed last year's by 2% percent. A public hearing on the increase will be held on Tuesday, March 23, 2021 at 6:30 p.m. in the Board of Supervisors Auditorium, located at 1 Government Center Place, Abingdon, Virginia. All citizens have the right to attend the public hearing and comment on the proposed real property tax increase within such reasonable time limits as shall be established by the Board of Supervisors. The Board of Supervisors is not obligated to adopt the proposed tax rates, but may modify them, as it deems necessary. The County Administrator's Recommended Operating Budget for Fiscal Year 2021-2022 is based on an adopted tax rate of $0.62 per $100 of assessed value. If recommendation is approved, this represents a tax decrease. Jason N. Berry County Administrator

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