Real estate levies in Lexington, Virginia, are locally assessed taxes based on the value of privately owned properties, including residential homes, commercial buildings, and land. These assessments generate crucial revenue for the city, funding essential public services such as schools, infrastructure maintenance, public safety, and parks and recreation.
Stable and predictable funding from these local levies enables the city to provide vital community services and maintain a high quality of life for residents. Historical context demonstrates how these revenues have contributed to the city’s development and the preservation of its unique character. These levies are an integral part of a balanced local budget, reflecting the community’s investment in itself and its future.