A Public Hearing to Consider a Proposed Real Property Tax Increase
The Board of Supervisors has scheduled a public hearing to consider the effects of the 2018 quadrennial reassessment. Total assessed value of real property, excluding additional assessments due to new construction or improvements to property, exceeds last year's total assessed value of real property by 12.7%. 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 with the exclusions mentioned above, would be $0.94 per $100 of assessed value. This rate will be known as the "lowered tax rate". The County Administrator's proposed budget includes an "advertised tax rate" of $1.001 per $100 of assessed value, to provide the Board of Supervisors flexibility in their budget deliberations. However, the County Administrator's proposed budget recommends a tax rate of $0.987 per $100 of assessed value to fund the FY 2019 proposed budget as presented.
Individual property taxes may adjust at a percentage greater or less than the rate of change noted for total assessed value.
Documents for this public hearing were previously provided to the Board members. The proposed budget document will be available for review beginning February 14, 2018 at the Warren Green building, the Office of Management and Budget, County libraries, and on the County website.
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