Halifax County proposes to increase property tax levies.
- 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 7.29%.
- 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 $0.47 per $100 of assessed value. This rate will be known as the “lowered tax rate.”
- Effective Rate Increase: Halifax County proposes to adopt a tax rate of $0.50 per $100 of assessed value. The difference between the lowered tax rate and the proposed rate would be $0.03 or 6%. 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.
- Proposed Total Budget Increase: Based on the proposed real property tax rate and changes in other revenues, the total budget of Halifax County will exceed last year’s by 1.74%.
A public hearing on the proposed increase will be held on Monday, March 4, 2024 at 6:30 PM in the Public Meeting Room of the County Administrative Building, 1050 Mary Bethune Street, Halifax, VA. The public is invited to attend and comment on this proposal.