Town of Louisa, Virginia
Notice of Proposed Tax Increase
Notice is hereby given that the Town Council proposes
the following tax levies for the Fiscal Year commencing
July 1, 2008:
Unit
Levy: Cents per $100 Assessed Valuation Proposed Levy
Real Estate unchanged at $0.166
Tangible Personal Property unchanged at $0.71
Prepared Meals Tax is unchanged at 5.50%
PPTRA Relief Set at 50%
Lowered Tax Rate: Notice
is hereby given that the total assessed value of real
property exceeds last year's total assessed value by 5.5%.
The tax rate which would levy the same amount of real
estate tax as last year, when multiplied by the current
total assessed value of real estate, would be $0.158 per
$100. This rate is known as the "lowered tax rate." The
Town of Louisa proposes to adopt a tax rate not to exceed
$0.166 per $100 of assessed value. A tax rate of $0.166
per $100 of assessed value would be an effective tax rate
increase of 5.5%. However, individual property taxes
may increase or decrease.
Proposed Total Budget Increase: Based on the proposed
real property tax rate and changes in other revenues,
the total budget of the Town of Louisa will exceed last
year's by 16.55% percent.
Brian W. Marks
Town Manager
