realestate

Martinsville council approves revised real estate tax rate

Martinsville City Council Votes to Lower Real Estate Tax Rate, But Could Mean Higher Payments.

T
he Martinsville City Council has approved a reduction in the real estate tax rate from 99 cents to 77 cents per $100. However, this decrease may actually result in higher payments for some residents due to significant property reassessment value increases of over 37 percent.

    During Tuesday's meeting, controversy arose regarding city expenses and credit card use, prompting a brief recess due to audience disruption. Mayor LC Jones emphasized that the council should focus on the bigger picture rather than micromanaging daily operations or scrutinizing individual expenses like travel costs for conferences, which were previously budgeted. The new tax rate will undergo a second reading at the next meeting after passing its first reading.

Martinsville council members vote to revise real estate tax rate in Virginia.