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    Purcellville lowers tax rate for fiscal 2015

    The Purcellville Town Council voted April 8 to lower both the tax rate and the water and sewer rates.

    The council approved a tax rate of 21 cents per $100 of assessed property value for fiscal 2014-2015, lower than the current 22.5 cent rate and below the equalized tax rate. The dip below the equalized rate means most Purcellville homeowners will see a tax cut this year. The measure passed in a 6-1 vote, with council member Patrick McConville as the lone dissenter.

    Water and sewer rates were each reduced 3 percent, also in a 6-1 vote with Jim Wiley voting against the measure.

    “Our conservative fiscal policies combined with a strong business community has allowed the Town Council to either cut or equalize Town property taxes seven out of the last eight years,” said Mayor Bob Lazaro in a released statement. “Our AAA bond rating saves taxpayers more than $2 million over the next five years and is the foundation upon which we are reducing water and sewer rates.”

    Purcellville received a AAA credit rating Oct. 8 from Standard and Poor, one day before the town's public bond sale that locked in $2 million and savings and freed up $9.5 million in cash flow in utility funds. Purcellville is the only municipality under 15,000 in Virginia to earn a AAA rating.



    Comments

    Are those the same conservative fiscal policies that the Purcellville Mafia used to balloon the Town debt to over $60MM? The same bond rating that kicks the money management can down the road takes from the future to pay private developers now? Maybe the normally addlepated, ol’ doc Wiley was right for once.

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