Notice of Proposed Real Property Tax Increase
The County of Pulaski proposes to decrease the real 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 approximately twelve percent (12%).
2. Lowered Rate Necessary to Reduce the 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 $.69 per $100 of assessed value. This rate will be known as the “lowered tax rate.”
3. Effective Rate Increase: The County of Pulaski proposes to adopt a tax rate of $0.75 per $100 of assessed value. This rate will be known as the “proposed tax rate”. The difference between the lowered tax rate and the proposed tax rate would be $0.06 per $100, or eight percent (8%). This difference will be known as the “effective tax rate increase.” Although the County of Pulaski does not propose to do so, were it to maintain the current tax rate of $0.77 per $100 of assessed value, the tax rate would effectively be increased by $0.08 per $100, or twelve percent (12%).
Note: 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
Pulaski County will exceed last years by five percent (5%).
A Public Hearing on the increase and levy will be held on March 22, 2021 at 7:00 PM at the Pulaski County Board of Supervisors Meeting Room of the Pulaski County Administration Building at 143 Third Street NW; Pulaski, VA 24301.