The Farmville Town Council will hold a public hearing on Wednesday, May 19, 2021, beginning at 7:00 p.m., in the Council Chamber located on the second floor of the Town Hall, 116 North Main Street, Farmville, Virginia, to receive comments on the following matter:
NOTICE OF PROPOSED REAL PROPERTY TAX INCREASE
The Town of Farmville proposes to increase tax levies.
- Assessment Increase: Total assessed value of real property, excluding additional assessments due to new construction or improvements to property, exceeds last year’s assessed value of real property by 13.9 percent.
- 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 exclusion mentioned above, would be $0.105 per $100 of assessed value. This rate will be known as the “lowered tax rate.”
- Effective Rate Increase: The Town of Farmville proposed to adopt a tax rate of $0.13 per $100 of assessed value. The difference between the lowered tax rate and the proposed tax rate would be $.025 per $100, or 23.81 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.
- Proposed Total Budget Increase: Based on the proposed real property tax rate and changes in other revenues, the general fund budget of the Town of Farmville will exceed last years by 9.20 percent and the total budget of the Town of Farmville will be 4.80 percent lower than last year’s budget.
The Farmville Town Council may take action on the proposed ordinance on May 19, 2021.
Any person(s) wishing to comment on the above matter should plan to attend this meeting. If you do not feel comfortable attending the meeting, you can participate by contacting the Clerk of Council and ask to participate in the public hearing by phone. Once a person has formally made this request, they will be provided the conference call number. Make your requests by email at [email protected] or by calling (434) 392-9465 by 4:00 p.m. on Wednesday, May 19, 2021.
Questions and comments related to this public hearing may be directed to the Town Manager, 116 North Main Street, PO Drawer 368, Farmville, Virginia, 23901 or by calling (434) 392-5686, between the hours of 8:00 a.m. and 5:00 p.m., Monday through Friday.
It is the intent of the Town to comply with the Americans with Disabilities Act. Should you need special accommodations, please contact the Clerk of Council at (434) 392-9465, prior to the meeting.