Attached is a copy of the public hearing notice pertaining to the 2022 Real Estate Tax Rate Public Hearing. The FY 2022 Town Manager’s Proposed Budget recommends no change to the prior year 2021 tax rate of $0.22 per $100 of assessed value.
Per Code of Virginia, municipalities must advertise a tax rate increase when real property assessment revaluations exceed 1%. For 2022, Purcellville’s real property assessments increased by 11.5%, excluding additional assessments associated with new construction, resulting in an equalized tax rate of $0.197. The equalized tax rate is the rate that would levy the same amount of revenue in 2022 as was levied in 2021 for existing properties. The budget schedule recommends Town Council adopt the 2022 real property tax rates during the March 22 meeting in accordance with the County Tax Program MOA in order to provide sufficient time to prepare and mail tax bills to citizens by early May for the June 5th tax due date.