LYNCHBURG, Va. – Thanks to a budget surplus of $43 million, because of last year’s increase in real estate taxes, homeowners in Lynchburg could soon get money back into their pockets.
Lynchburg City Councilman and Chairman of council’s finance committee, Jeff Helgeson, said he is proposing homeowners get back eight cents on every $100 for the value of their home, the same monetary amount of the tax increase.
“We know that there is lots of excess money. Totally unnecessary tax and we should give that back to our citizens,” said Helgeson.
Lynchburg City Council is set to discuss the proposed tax rebate during a work session in October.