Pursuant to Section 58.1-3321, Code of Virginia (1950), as amended,
notice is hereby given that the City of Salem proposes to increase
property tax levies.
Assessment Increase:
The 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 8.28 percent.
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 $1.108
per $100 of assessed value. This rate will be known as the
“lowered tax rate.”
Effective Rate Increase: The City of Salem proposes to adopt a
tax rate of $1.18 per $100 of assessed value. The difference
between the lowered tax rate and the proposed tax rate would be
$0.072 per $100, or 6.47 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.
Proposed Total Budget Increase: Based on the proposed real
property tax rate and changes in other revenues, the total budget
of the City of Salem will exceed last year’s budget by 7%.
A public hearing on the “effective tax rate increase” will be held on
Monday, May 12, 2025, at 6:30 p.m., or as soon thereafter as the
matter may be heard, in Council Room, 114 North Broad Street, Salem,
Virginia. All persons shall be offered an opportunity to speak and state
their views concerning the proposed real property tax increase within
such reasonable time limits as shall be established by City Council.
Persons desiring to speak on behalf of others must have their names
placed on the agenda in accordance with regular procedures of Salem
City Council. Written comments of interested citizens will be received
by the City Clerk prior to the meeting.
