Notice of Proposed Real Property Tax Increase
The County of Prince George proposes to increase property tax levies.
- Assessment Increase: Total assessed value of real property, excluding assessments due to new construction and improvements to property, exceeds last year’s total assessed value of real property by 1.2 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 $0.85 per $100 of assessed value. This rate will be known as the “lowered tax rate.”
- Effective Rate Increase: The County of Prince George does not propose to adopt a tax rate lower than $0.86 per $100 of assessed value. The difference between the lowered tax rate and the proposed tax rate would be $0.01 per $100, or 1.2 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 Prince George County will exceed last year’s by 4.65 percent.
- In addition, the County Administrator has recommended that the Prince George County Board of Supervisors advertise a 5 cent increase in the real property tax rate, from $0.86 to $0.91 per $100 of assessed value, to fund school capital improvements.
A public hearing on the increase will be held on April 10, 2018 beginning at 7:30 p.m. in the Board of Supervisors Meeting Room, Third Floor of the County Administration Building, 6602 Courts Drive, Prince George, Virginia, (located at the intersection of Laurel Springs Road and Courts Drive in the County Government Complex).
Related documents are available for review in the Office of the County Administrator/Clerk to the Board of Supervisors, Third Floor Third Floor, County Administration Building, 6602 Courts Drive, Prince George, Virginia, Monday through Friday from 8:30 a.m. until 5:00 p.m.; Tel. 722-8600. All interested persons shall be given an opportunity to be heard.
Percy C. Ashcraft
Issued in accordance with § 58.1-3321, Code of Virginia, 1950, as amended.