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Public Notice – Public Hearing on 2014 Proposed Tax Rates

NOTICE OF PROPOSED REAL PROPERTY AND

TANGIBLE PERSONAL PROPERTY TAX INCREASE

Notice is hereby given pursuant to Section 58.1-3007 of the Code of Virginia that the Nelson County Board of Supervisors will conduct a public hearing on April 10, 2014 at 7:00 p.m, or as soon as possible thereafter, in the General District Courtroom within the County Courthouse located in Lovingston, Virginia.   The citizens of Nelson County shall be given an opportunity to appear before, and be heard by, the governing body on the subject of this real property (inclusive of mobile homes) and tangible personal property tax rate increases as proposed below.  There is no change proposed for the  Machinery & Tools Tax rates for 2014.  All tax rates are per $100 of assessed value.

                                               2013           2014

Real Property Tax                  $0.60       $0.72

Tangible Personal Property     2.95         3.50

Machinery & Tools Tax            1.25           1.25

Mobile Home Tax                     0.60          0.72

A real property assessment was conducted as required by law to determine 2014 taxable real property values.  Overall, certified 2014 real property values were eighteen percent below the 2013 values.  Equalization of 2013 revenues generated from real property tax requires a tax rate of $0.74 per $100 of assessed value.  The advertised rate of $0.72 will reduce the revenue generated from real property tax by $460,080.

The current tangible personal property rate of $2.95 was established in 1989 and is proposed to increase to $3.50 per $100 of assessed value.

Citizens requiring additional information may make inquiries by calling 434-263-7000.

 By Authority of Nelson County Board of Supervisors