Town will not see tax increase

Published 1:34 pm Wednesday, June 6, 2018


The Town of Kenbridge will not see an increase in personal property tax following a property reassessment that took place in the county this year, according to a public hearing held at the Kenbridge Town Council May 15.

The tax will remain at 41 cents per $100 of assessed value, town treasurer Marsha Nash confirmed.

The town is set to vote on its tax rates and proposed 2018-2019 budget during its June meeting, set for June 19.

The total value of assessed property in Kenbridge, according to a public notice, increased by 1.27 percent over last year’s value. This year’s values came to $72,734,300 whereas last year’s was $71,468,700.

The notice cited that in order to offset the increased assessed value for the property, the tax rate would need to be lowered to 40 cents per $100 of assessed value.

Town Mayor Emory Hodges said the town adjusted its budget to keep the tax at the same rate.

“We basically piggyback on the county,” Hodges said during the hearing, describing the reassessment process. “The county comes forward and says, here’s the re-assessed value of the property in the Town of Kenbridge. What we do is we look at the revenue we would collect on the previous value, and we try to stay within 1 percent or less of the same revenue, so that we don’t have to say, we’re raising taxes.”

Council member Ken Blackburn said the town is expected to hold a public hearing if the assessed property value rises above 1 percent.