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Posted on: March 18, 2020

Public Hearing Notification: Public Notice of Proposed Real Property Tax Increase



Public Hearing Notification

The City of Colonial Heights proposes to increase property 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 total assessed value of real property by 4.71 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 exclusions mentioned above, would be $1.15 per $100 of assessed value.  This rate will be known as the “lowered tax rate.”
  • Effective Rate Increase:  The City of Colonial Heights proposes to adopt a tax rate of $1.20 per $100 of assessed value.  The difference between the lowered tax rate and the proposed rate would be $0.05 per $100, or 4.2 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 total budget of the City of Colonial Heights will exceed last year’s by 3.14 percent.
  • A public hearing on the increase will be held on Tuesday April 28, 2020 at 6:00 P.M. in Council Chambers of City Hall, 201 James Avenue, Colonial Heights, Virginia.

All persons affected or interested are invited to be present at the public hearing of the City Council, to be held at the time and place stated above, when an opportunity will be given for them to be heard.