Colonial Beach Lawmakers Looking At Lowering Tax Rate

Colonial Beach lawmakers are looking at the fiscal year 2023 tax rate but setting it is more complex this year. According to Westmoreland News since property values are nearly 13% higher it increases revenue by more than 1% if the current rate is unchanged. At that point the rate needs to be reduced or lawmakers deem the increase as necessary. Lawmakers are saying the rate could be cut by 3 to 9 cents per $100.