A6 • • • FRIDAY, MARCH 20, 2020 RICHMOND TIMES-DISPATCH From Page A1 Legal Notice NOTICE OF PROPOSED REAL PROPERTY TAX INCREASE LOUISA COUNTY BOARD OF SUPERVISORS The Louisa County Board of Supervisors will hold a public hearing on the following item at 6:30 p.m., after regular business, on Monday, April 6, 2020, in the Louisa County Public Meeting Room, Main Floor, Louisa County Office Building, Louisa, Virginia: The County of Louisa proposes to increase property tax levies. 1. Assessment Increase: Total assessed value of real property, excluding additional assessments due to new construction or improvements to property, exceeds last year’s total assessed value of real property by 2.62%. 2. 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 exclusions mentioned above, would be $0.702 per $100 of assessed value. This rate will be known as the “lowered tax rate.” ad 101076982-01 3. Effective Rate Increase: The County of Louisa proposes to maintain the current tax rate ($0.72 per $100 of assessed value). The difference between the lowered tax rate and the proposed rate would be $0.018 per $100 or 2.55% 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. 4. Proposed Total Budget Increase: Based on the proposed real property tax rate and changes in other revenues, the total budget of Louisa County will exceed last year’s by 7%. This is subject to change as revenues and expenditures are finalized. A public hearing on the increase will be held on April 6, 2020 at 6:30 p.m., after regular business, in the Louisa County Public Meeting Room, Main Floor, Louisa County Office Building, Louisa, Virginia. Additional information is available for review in the Administration Department, Second Floor, Louisa County Office Building, Louisa, Virginia, Monday through Friday, 8:30 a.m. to 5:00 p.m. Any parties wishing to be heard are requested to attend the public hearing. BY ORDER OF: ROBERT F. BABYOK, JR., CHAIRMAN LOUISA COUNTY BOARD OF SUPERVISORS LOUISA COUNTY, VIRGINIA
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