Lynchburg City Council last night voted to keep the city’s property tax rate at $1.11 per $100 of assessed value. That will amount to higher taxes for those whose property value assessments recently increased. Supporters including Councilman Sterling Wilder say it will  generate an extra 4-million dollars in the city budget.     

Councilman Chris Faraldi was disappointed that Council voted 4-3 against his motion to discuss lowering the rate to 1.07 – which he said would have been a compromise: 

Council will take a final vote on the budget at the end of May.