STRASBURG, Va. (WHSV) – The Strasbourg City Council is holding a public hearing during its Monday evening business session. The hearing will focus on the city’s property tax rate in 2022 following countywide property value reassessments in the fall.
The city advertises a rate of 16 cents per $100 of estimated property value, which is its current tax rate. This number could be lowered but the city proposes to keep the tariff to increase its income in order to balance the budget.
“To equalize our rate, we would have to lower our rate to 13.4 cents just a little over 13 cents per 100 to equalize income under state code,” said Strasbourg city manager Waverly Coggsdale.
The difference between the 13.4-cent rate and the rate the council ultimately votes to set will be known as the “effective tax rate increase,” even though the actual rate will not increase.
“With new real estate valuations, every penny of our tax rate generates about $83 to $84,000,” Coggsdale said.
Coggsdale said it’s important to remember that the tax rate set Monday or at the April 12 council meeting will be for the 2022 budget and property tax which is due June 5.
Coggsdale said residents probably won’t see a huge tax hike, but that depends on how much their home’s estimated value increases.
Also during the meeting, the board will discuss the 2023 budget which is proposed at a total of $5.8 million. The council will also hear bids for the installation of new water meters in the town.
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