The Town of Christiansburg proposes to increase 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 23.55% 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 $0.130803 per $100 of assessed value. This rate will
be known as the “lowered tax rate.”
3. Effective Rate Increase: The Town of Christiansburg
proposes to adopt a tax rate of $ 0.14 per $100 of assessed
value. The difference between the lowered tax rate and the
proposed rate would be $ 0.009197 per $100, or 7% 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 Increase: Based on the proposed
real property tax rate and changes in other revenues, the total
operating budget of Town of Christiansburg will exceed last
year’s by 8.8 percent.
A public hearing on the increase will be held on May 9, 2023
at 7 p.m. at the Town Hall in Council Chambers at 100 E.
Main Street, Christiansburg, VA
