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<br />~J:1 <br /> <br />TUESDAY <br /> <br />JUNE 17, 1969 <br /> <br />A special and duly-called meeting of the Council of the City of Martinsville, <br /> <br />Virginia, with Mayor F. T. Renick, M.D., presiding, was held Tuesday, June 17, <br /> <br />1969, in the Council Chamber, City Hall, beginning at 7:30 P.M., all members <br /> <br />being present, viz., Mayor F. T. Renick, M.D.; Francis T. West, Vice-Mayor; <br /> <br />Harry L. Boaz; W. Donald Hartford; and William D. Hobson. <br /> <br />,- <br /> <br />After the invocation, Mayor Renick stated the purpose of this special meeting, <br /> <br />being duly-advertised, viz., to conduct a public hearing on the City Manager's <br /> <br />recommended City Budget for the fiscal year beginning July 1, 1969, including <br /> <br />a proposed increase in the City's real estate tax rate from $2.00-to-$2.25 per <br /> <br />one hundred dollars of assessed valuation. <br /> <br />Mr. S. Booker Carter, Jr., Attorney at Law and Chairman of the Tax Study Committee <br /> <br />of the Martinsville-Henry County Chamber of Commerce, presented the following <br /> <br />interim report of the Committee, for which Council expressed appreciation--including <br /> <br />a commendation of the Committee, as well as of the Chamber for its interest and <br /> <br />for its authorizing and supporting the special study--and which report the Council <br /> <br />took under consideration: <br /> <br />1. The tax study committee has not completed its work as of this date. <br />It plans to continue its work as outlined for it by the chamber board with a <br />view toward presenting its findings and recommendations in a form which it <br />hopes will be of a permanent and basic nature not necessarily limited in <br />application to a particular budget for a particular year. <br /> <br />2. The present function of the tax study committee as established by <br />the chamber board is to study the Martinsville tax structure to "assure <br />that all segments of the community are carrying their fair share of the tax <br />burden, to correct inequities and to work toward equalization of tax rates." <br /> <br />It is not its function to study expenditures. Accordingly this <br />committee has no recommendation to make with regard to the "City Manager's <br />Budget Report 1969-70" as a whole. <br /> <br />However, since the major change recommended in the report is an <br />increase in the real estate tax rate from $2.00 per $100 assessed value <br />to $2.25 per $100 assessed value and since the real estate tax was the <br />