From yesterday’s Daily Progress regarding the worsening Albemarle County budget (bolding mine):
The proposed 77.2-cent tax rate would mean the average homeowner would pay the same real-estate taxes as this year for the next two years, officials say. Assuming real-estate values begin to pick up, there would be a slight increase in tax bills in the third and fourth years, maxing out at a 3 percent increase in real-estate taxes five years from now, officials project.
Which officials are hopefully assuming that real estate values will pick up? And when?
Naturally, Charlottesville Tomorrow has a related story – Supervisors provide direction on balancing five-year financial plan.