Purcellville lowers tax rate for fiscal 2015
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.
Post a commentCommenting is not available in this channel entry.
Comments express only the views of the author and do not necessarily reflect the views of this website or any associated person or entity. Any user who believes a message is objectionable can contact us at [email protected].
- Commentary: A mismatch between need and affluence
- Loudoun County’s multi-million dollar ERP problems continue
- More than 40 Oscar nominations for Middleburg Film Festival titles, actors
- Superintendent makes case for $1.1 billion budget to supervisors
- Purcellville man charged with felony animal cruelty
|The Loudoun Times-Mirror
is an interactive, digital replica
of the printed newspaper.Click here for all e-editions.