The Albemarle County Board of Supervisors on Thursday approved advertising a real estate tax rate with no increase.
The county executive’s proposed fiscal year 2021 budget includes a recommended real estate tax rate of 85.4 cents per $100 of assessed value, the same as is currently in effect.
Supervisor Bea LaPisto Kirtley proposed advertising a 2-cent rate increase, to 85.6 cents per $100 of assessed value, to be dedicated to general government to hire additional firefighters, but other supervisors were not in favor.
Because of increased property assessments, the effective real estate tax rate — the rate that would levy the same amount of revenue as last year — would be 82.6 cents per $100 of assessed value.
With Thursday’s decision, the board can adopt a tax rate equal to or less than the current one. The board would need to readvertise a tax rate with an increase should it change course and want to raise the rate.
The board is scheduled to adopt a fiscal year budget and calendar year 2020 tax rate on April 20.
Source: www.dailyprogress.com
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