I want to give you an update on what Town Council has been doing to help our residents and businesses in the wake of the COVID-19 pandemic.
We understand that the COVI D-19 pandemic’s devastating economic and social impacts require a comprehensive response to provide relief to businesses and residents alike. It is evident that the need is immediate and we are taking long-term measures into account.
Town Council has provided immediate assistance through two emergency ordinances which provide in part for the suspension of water and sewer cut-offs, and waiving of penalties for late payment of water and sewer bills, hospitality taxes, and business licenses through June 30, 2020.
Town Council is considering long-term measures, which will require a second reading before passage, to enable a substantial cut in property taxes for businesses and residents of the Town and the institution of a limited small business emergency loan program totaling up to $1 million. This measure includes the removal of the sunset date in the Hospitality Tax ordinance. This will provide for both immediate and future recurring funds to sustain a 21% property tax rate cut and enact long-term economic recovery measures. If passed, this would mark the third property tax decrease in 30 years, with no increases during that time period. Additionally, all ongoing traffic improvements would be fully funded, while also providing funding of future traffic projects and other major
needs and priorities.
Town Council is here for you, please do not hesitate to reach out. We assure you that the Town of Lexington will thrive once again.