Legal 3 col x 4-1/4 ”
0316 0323
NOTICE OF PROPOSED TAX INCREASE
The Clay County Commission proposes to increase property tax levies.
1. Appraisal/Assessment Increase:
Total assessed value of property, excluding additional assessments due to new or improved property,
exceeds last year’s total assessed value of property by 8.31%
2. Lowered Rate necessary to Offset Increased Assessment:
The tax rate which would levy the same amount of property tax as last year, when multiplied by the
new total assessed value of property with the exclusions mentioned above, per $100 of assessed
value on each class of property, would be:
Lowered Tax Rates
Class I 13.52¢
Class II 27.04¢
Class III 54.08¢
Class IV 54.08¢
3. Effective Rate Increase:
The Clay County Commission proposes to adopt a tax rate per $100 of assessed value on each class of property as follows:
Effective Tax Percentage of
Proposed Rate Rate Increase Increase
Class I 14.30¢ 0.78¢ 6%
Class II 28.60¢ 1.56¢ 6%
Class III 57.20¢ 3.12¢ 6%
Class IV 57.20¢ 3.12¢ 6%
Individual property taxes may, however, increase at a percentage greater than or less than the above percentage.
4. Revenue produced last year: $1,222,040
5. Revenue projected under the effective rate increases: $72,990
6. Revenue projected from new property or improvements: $6,949
7. General areas in which revenue is to be allocated: Regional Jail, old and new courthouse
maintenance, utilities and judicial annex maintenance
A public hearing on the increases will be held on
March 27, 2023 at 3:00 p.m. at Courthouse, 246 Main St., Clay, WV 25043
the decision regarding the increase will be made on
March 27, 2023 at 6:00 p.m. at Courthouse, 246 Main St., Clay, WV 25043