Bristol VA passes new property tax rate

The Bristol, Virginia City Council passed a new real property tax rate Tuesday. The rate is lower than last year but the new total assessed value of property has increased, therefore increasing the amount a property owner will owe. The previous tax rate was $1.17 per $100 of assessed value. The newly adopted rate is $0.93 per $100. City Manager Randall Eads said base on home value, the overall increase would be around a 16% increase. A public hearing will be held on April 22 about the proposed budget where citizens will have a chance to provide input. The first ordinance reading for the budget will be on May 13.