PROPOSED REAL PROPERTY
THE COUNTY OF FAUQUIER PROPOSES
TO INCREASE PROPERTY TAX LEVIES
Total assessed value of real property as a result of the
reassessment effective January 1, 2002, excluding additional assessments
due to new construction or improvements to property, is projected to
exceed the Calendar Year 2001 total assessed value of real property by
Necessary to Offset Increased Assessment:
The tax rate which would levy the same amount of real
estate tax as last year, when multiplied by the new total assessed value
of real estate would be $0.87 per $100 of assessed value. This rate will
be known as the “lowered tax rate”.
The Fauquier County Administrator proposes that the
Board of Supervisors adopt a tax rate for Calendar Year 2002 of $1.01
per $100 of assessed value.1
For comparison the Calendar Year 2001 tax rate is $1.06.
The difference between the lowered rate and the
proposed Calendar Year 2002 rate would be $0.14 per $100, or 13.9%.
This difference will be known as the “effective tax rate
property taxes, however, may increase at a percentage greater than or
less than the above percentage.
Based on the proposed real property tax rate and
changes in other revenues, the total budget of Fauquier County will
exceed last year’s budget by 20.2%.
A public hearing on the proposed increase will be
held on March 18, 2002 at 7:30 p.m. in the Warren Green Meeting Room.
¹ The County Administrator’s recommended tax rate is $0.95 per $100 of assessed value for the General Fund and $0.06 per $100 for the Fire and Rescue Levy. The Board of Supervisors will set the Calendar Year 2002 tax rate during the FY 2003 budget process.
County does not discriminate on the basis of handicapped status in
admission or access to its programs and activities.
Accommodations will be made for handicapped persons upon prior