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Lynchburg public hearing on proposed real property tax increase to happen Tuesday

Total taxable real estate values are proposed to increase from $5.7 billion to $6.1 billion.
Total taxable real estate values are proposed to increase from $5.7 billion to $6.1 billion.(WDBJ7)
Published: Mar. 29, 2021 at 5:18 PM EDT
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LYNCHBURG, Va. (WDBJ) - Folks in Lynchburg can voice their opinions on a proposed real property tax increase Tuesday.

A public hearing on that will happen Tuesday at 7 p.m.

The total taxable real estate values are proposed to increase 7.5% from $5.7 billion to $6.1 billion.

The city’s current tax rate is $1.11 per $100 of assessed value.

If city council sticks with that rate, city revenues would go up annually by almost $5 million dollars.

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