The Council shall, annually, before June 30,
fix the tax rates on all real and personal property properly 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 §
144-1, 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.
[Added 11-24-1987; amended 6-27-2016]
Except as otherwise provided, all taxes shall be due and payable as soon as the tax bills referred to in §
144-2 are sent. Any person failing to satisfy such tax bill on or before December 5 following the mailing thereof shall incur a penalty of 5% of the total taxes due. On all delinquent taxes and penalties assessed thereon, there shall accrue interest at the highest rate allowed by Virginia law. A thirty-day grace period will be given on penalty and/or interest for real estate taxes mailed out after November 5. All payments for overdue taxes will be applied to the most delinquent account as provided by § 58.1-3913 of the Code of Virginia unless a written payment plan is approved by the Town Treasurer.