Meeting Time: April 24, 2024 at 6:00pm EDT
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Agenda Item

3. 24-245 Calendar Year 2024 Personal Property Tax Rate. To receive public comment on its proposed increase in the tax rate from $3.42 per $100 of assessed value to $3.96 per $100 of assessed value, on all classes of property subject to taxation by the County pursuant to Chapter 15, Article 8 of the County Code, including tangible personal property; tangible personal property employed in a trade or business that is not otherwise classified as machinery and tools; merchants' capital; short-term rental property, with an original cost of less than $500; and machinery and tools, as enabled by Title 58.1, Chapter 35 of the Code of Virginia (1950), as amended, to be effective on and after January 1, 2024.

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    Oscar Rondon 6 months ago

    The proposed rate's absolute increase of $0.54 from $3.42 to $3.96, represents a 15.8% relative increase, almost twice the 8.64% CPI increase from March 2022 to March 2024. That is definitely an excessive rate increase. I see no justification for increases exceeding inflation by such large amount.