03-28-2024 Public Hearing - Real Property Tax IncreaseNOTICE OF PROPOSED REAL PROPERTY TAX
INCREASE
The Board of Supervisors of Pittsylvania County, Virginia, proposes to increase
property tax levies.
1. Assessment Increase: 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 37.86 percent.
2. Lowered Rate Necessary to Offset Increased Assessment: The tax rate which
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 $.45 per $100 of assessed value. This rate will be known as
the “lowered tax rate”.
3. Effective Rate Increase: The Board of Supervisors of Pittsylvania County,
Virginia, proposes to adopt a tax rate of $.59 per $100 of assessed value. The
difference between the lowered tax rate and the proposed rate would be $.14
per $100, or 31 percent. This 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.
4. Proposed Total General Fund Budget Increase: Based on the proposed real
property tax rate and changes in other revenues, the total General Fund budget
of Pittsylvania County, Virginia, will exceed last year’s by 10 percent.
A public hearing on the proposed real estate tax increase will be held on Thursday,
March 28, 2024, following the County Budget and the School Budget Hearings, which
commence at 7 PM at the Pittsylvania County School Educational and Cultural Center
Auditorium located at 39 Bank Street, Chatham, Virginia.