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Council reviews proposed 0.429606 property tax rate; Taxpayer Impact Statement shows $97 drop for average homestead
Summary
Councilmembers reviewed a proposed property tax rate of 0.429606 per $100 valuation for FY2025-26; the Taxpayer Impact Statement said the average taxable homestead value is $98,411 and the tax on that homestead at the proposed rate would be $423, a $97 reduction from last year. No vote was held.
The council considered a proposed property tax rate of 0.429606 per $100 valuation for fiscal year 2025-26. A council participant read the required Taxpayer Impact Statement, noting: "The City Council of the City of Blue Ridge is considering adoption of a property tax rate of 0.429606 for the $100 valuation for the fiscal year 2025-26." The statement listed the average taxable homestead value as $98,411 and said "Tax on the average homestead at the proposed rate is 423," which the reader contrasted with last year's tax of $520 — a $97 reduction.
Numbers from the statement included the taxable value totals and a projected levy of $543,992 at the proposed rate, a year-over-year levy change of about $24,298 (up 4.7%). The presenter said the proposed rate is below the no-new-revenue rate and equal to the voter-approval rate, meaning the city is not required to call an election on the rate. Councilmembers expressed agreement with the rate but did not take a formal vote during the special session.
