Jefferson

NOTICE OF PROPOSED TAX INCREASE

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NOTICE OF PROPOSED TAX INCREASE

The City of Charles Town 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 9.56{4ceb532c6f579389df471c6c1e832caf2346b74dc60fcbf6aabd4d29df3baf9c}.

  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 10.91 ¢

Class II 21.82 ¢

Class IV 43.64 ¢

  1. Effective Rate Increase: The governing body of the City of Charles Town proposes to adopt a tax rate per $100 of assessed value on each class of property as follows:

Proposed Effective Tax Percent of

Rate Rate Increase Increase

Class I 11.86 ¢ 0.95 ¢ 8.7{4ceb532c6f579389df471c6c1e832caf2346b74dc60fcbf6aabd4d29df3baf9c}

Class II 23.72 ¢ 1.90 ¢ 8.7{4ceb532c6f579389df471c6c1e832caf2346b74dc60fcbf6aabd4d29df3baf9c}

Class III & IV 47.44 ¢ 3.80 ¢ 8.7{4ceb532c6f579389df471c6c1e832caf2346b74dc60fcbf6aabd4d29df3baf9c}

  1. Revenue produced last year: $ 993,524

  1. Revenue projected under the proposed effective rate increase: $ 1,123,652

  1. Revenue projected from new property or improvements: $ 130,128

  1. General areas in which the revenue is to be allocated: Public Safety – Streets

A public hearing on the increases will be held on Monday, March 21, 2016 at 7 PM at Charles Town City Hall – Council Chambers, 101 E Washington Street, Charles Town, WV. A decision regarding the rate increase will be made following the public hearing.