Cape Charles Town Council
Notice of Proposed Real Property Tax Increase
The Cape Charles Town Council proposes to increase the property tax levies.
1. Assessment Decrease: Northampton County performed a reassessment of real property in the Town. The total assessed value of real property in the Town decreased an average of 35%. The revised values will be effective with the FY2013/2014 budget year.
2. Raised Rate Necessary to Offset Decreased 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, would be $0.2674 per $100 of assessed value. This rate will be known as the “equalized tax rate.”
3. Effective Rate Increase: The Cape Charles Town Council is considering a proposed tax rate of $0.2874 per $100 of assessed value. The difference between the equalized tax rate and the proposed tax rate would be $.02 per $100. This difference will be known as the “effective tax rate increase.”
Individual property taxes for properties located within the Town of Cape Charles may have a Total Combined Tax decrease due to the average assessed values in Northampton County decreasing approximately 20% vs. 35% in the Town.
A public hearing on the tax rate will be held on May 30, 2013 at 6:00 p.m. at the St. Charles Parish Hall located at 550 Tazewell Avenue.
This item will be discussed and brought to a vote at a special meeting on June 3, 2013 at 6:00 p.m. at the Town Hall located at 2 Plum Street.
A public hearing on the entire FY2013-2014 Budget (General Fund, Harbor Fund, Sanitation Fund, Water & Wastewater Fund) will be held on June 20, 2013 at 6:00 p.m. at the St. Charles Parish Hall. There will be a rate increase this year for the wastewater utilities. At this time, the amount of the increase is still undetermined. The Town Council is working to minimize the amount of the increase and more details will be provided within the next couple of weeks.