Franklin County Board of Supervisors Public Notice of Proposed Real Estate Property Tax Increase and Public Notice of Hearing on Setting of Tax Levies

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COUNTY OF FRANKLIN
PUBLIC NOTICE
HEARING ON SETTING OF TAX LEVIES
In accordance with Sections 15.2-1427 and 15.2-2507 of the Code of Virginia, as amended, notice is
hereby given that the Franklin County Board of Supervisors will conduct a public hearing on Monday,
April 8, 2024, at approximately 6:00 P.M. in the Board of Supervisors Board Room at the
Government Center, located at 1255 Franklin Street, Suite 104, Rocky Mount, Virginia.
A HEARING TO SET TAX LEVIES FOR THE FOLLOWING
CLASSES OF PROPERTY:

  1. Setting a tax levy of $0.45/$100 of assessed value on real estate, public service corporation
    property, and mobile homes; pursuant to the authority of 58.1-3200, 58.1-3201, 58.1-3202,
    58.1-3203, 58.1-3204, 58.1-3205 of the Code of Virginia, as amended.
  2. Setting a tax levy of $2.41/$100 of assessed value on personal property, pursuant to the
    authority of 58.1-3500, 58.1-3501, 58.1-3502, 58.1-3503, 58.1-3506 of the Code of Virginia, as
    amended.
  3. Setting a tax levy of $1.89/$100 of assessed value on personal property, classified as heavy
    construction machinery, including but not limited to land movers, bulldozers, front-end loaders,
    graders, packers, power shovels, cranes, pile drivers, forest harvesting and silvicultural activity
    equipment and ditch and other types of diggers owned by businesses pursuant to the authority
    of 58.1-3508.2 of the Code of Virginia, as amended.
  4. Setting a tax levy of $0.70/$100 assessed value on machinery and tools based on original cost
    and declining depreciation over a 7-year period. By the seventh year of depreciation, the
    effective rate is $0.28 per $100 assessed value. This rate is levied pursuant to the authority of
    58.1-3507(B) of the Code of Virginia, as amended.
  5. Setting a tax levy of $1.08/$100 of assessed value on merchants’ capital, pursuant to the
    authority of 58.1-3509, and 58.1-3510 of the Code of Virginia, as amended.
    The Public Hearing will be broadcast live on YouTube. The hearing and a copy of the proposed FY
    24-25 County Budget and associated tax levies can be reviewed from the County website:
    http://www.franklincountyva.gov. This medium will allow for citizens to view and listen to the public
    hearing.
    The Public may comment during the 6:00 p.m. public hearing until the Chairman closes the
    public hearing:
     Comments should not exceed 3 minutes.
    All requests for reasonable accommodations due to a disability should be made to Amy
    Renick, Clerk to the Board of Supervisors, at (540) 483-3030 with at least a 48-hour notice.

COUNTY OF FRANKLIN
PUBLIC NOTICE
NOTICE OF PROPOSED REAL PROPERTY TAX INCREASE
Pursuant to Section 58.1-3321 of the Code of Virginia (1950), as amended, notice is
hereby given that the County of Franklin proposes to increase real property tax levies.

  1. Real Estate 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 46.80
    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 $0.41 per $100 of assessed value. This rate will be known as the
    “lowered tax rate.”
  3. Effective Rate Increase: The County of Franklin proposes to adopt a tax rate of
    $0.45 per $100 of assessed value. The difference between the lowered tax rate
    and the proposed rate would be $0.04 per $100, or 9.76 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 budget of the County of Franklin will be
    lower than last year’s by -0.31 percent.
    The provisions of this section shall not be applicable to the assessment of public service
    corporation property by the State Corporation Commission.
    A public hearing on the proposed increase will be held on Monday, April 8, 2024, at
    approximately 6:00 p.m. in the Board Room at the Franklin County Government Center,
    1255 Franklin Street, Rocky Mount, Virginia.
    The public hearing will be broadcast live on YouTube from the link on the County’s
    website: www.franklincountyva.gov. This medium will allow for citizens to view and listen
    to the public hearing.
    The Public may comment during the 6:00 p.m. public hearing until the Chairman closes
    the public hearing:
     Comments should not exceed 3 minutes.
    All requests for reasonable accommodations due to a disability should be made to Amy
    Renick, Clerk to the Board of Supervisors, at (540) 483-3030 with at least a 48-hour notice.