It’s unconscionable that governments would seek to raise taxes in the midst of a recession. Currently the tax rate in Albemarle County is 71 cents – meaning that a homeowner living in a house assessed for $100k would pay $710 per year. Assessments have dropped this year, so the County has to raise the tax rate to compensate … if we could all set our budgets this way …
From the Daily Progress:
However, Tucker will base his budget recommendation on a 76.7-cent rate, with 2.5 cents set aside for the rainy day fund, because home assessment values in Albemarle didn’t decline as much as officials had projected in December. At a 76.7-cent rate, the average homeowner in Albemarle would pay more taxes this year than last.
Get educated on Albemarle County’s Five Year plan here.
Is a fractional tax rate even feasible? Maybe not, based on last year’s budget process (thanks to Cville Tomorrow – bolding mine):
By a split decision, the board asked that the budget process begin with a 77-cent real estate tax rate, with 2.5 cents of it set aside for a rainy day fund.
Supervisors Ken Boyd (Rivanna) and Lindsay Dorrier (Scottsville) voted against the tax rate increase, though both were willing at one point in the meeting to consider an effective rate of 70.5 cents as a compromise. That compromise was initially ruled out when County staff told the Board that their computer system could not handle a fractional tax rate without significant modifications. The tax rate had to be a round number.
So … why bother starting the discussion based on a budget based on 76.7 cents?
Maybe I’m missing something.
