The Town Council shall, annually, before the first day of July, fix the tax rates on all real and personal property subject to taxation within and by the Town and shall assess such taxes as may be required to provide for the needs and purposes of the Town. In determining the valuation of property in the Town, reference shall be had to the records of the Commissioner of Revenue of the county.
As soon as practicable after taxes are assessed as provided in § 389-1, the Town Treasurer shall make or cause to be made for each taxpayer a tax ticket, substantially in the form prescribed by the State Department of Taxation, and shall send by mail to each taxpayer a bill for such taxes.
Before any local tax levy, license fee, water rates or sewer rates in the Town may be increased, a public hearing shall be held to give the citizens of the Town an opportunity to appear before and be heard by the Council, and notice of such public hearing and any proposed increases shall be published in the newspaper having general circulation in the Town at least 30 days before such public hearing and any increase in such levy, fees or rates.
The minimum tax assessed annually to any taxpayer or group of taxpayers owning property jointly shall be $5 for real estate taxes or personal property taxes. The five-dollar minimum is to apply as to any bill or statement for taxes properly rendered by the Town to any taxpayer whether such taxable period is for one year or less.
Except as otherwise provided, all taxes shall be due and payable as soon as the tax bills referred to in § 389-2 are sent. Any person failing to satisfy such tax bill on or before the 15th day of January following the mailing thereof shall incur a penalty of the maximum amount permitted by the laws of the Commonwealth of Virginia to be assessed against delinquent taxpayers, but instead of being applicable after December 5, the above date shall apply.
[Amended 1-12-2009 by Ord. No. 2009-02]
Interest shall be collected upon the principal and penalty of any delinquent taxes from February 15 of the year next after taxes were assessed under § 389-1 for the maximum amount permitted by the laws of the Commonwealth of Virginia on delinquent taxes.