NOTICE OF PUBLIC HEARING FOR THE PROPOSED REAL PROPERTY TAX INCREASE FOR THE TOWN OF RICH CREEK, VA

Pursuant to Virginia Code Section 58.1-3321, The Town of Rich Creek proposes to increase the 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 47.58 percent.

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 $ 0.1355 per $100 of assessed value. This rate will be known as the "lowered tax rate."

3. Effective Rate Increase: The Town of Rich Creek proposes to adopt a tax rate of $0.20 per $100 of assessed value. The difference between the lowered tax rate and the proposed rate would be $ 0.0645 per $100, or 47.60 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 Decrease: Based on the proposed real property tax rate and changes in other revenues, the total budget of Town of Rich Creek will decrease 3.9 percent, in regards to the last fiscal year budget.

A public hearing will be held on Thursday, June 18, 2026 at 6:00 PM at the Town Municipal Building in Council's Chambers, located at 250 Old Virginia Avenue, Rich Creek, VA 24147.  All interested citizens are urged to attend the public hearing and will be allowed a reasonable amount of time to comment on the proposed tax increase. For additional information, contact the Town Clerk at 540-726-3260 or by email at townofrichcreek@richcreek.org.