Assessments are up. So might be the mil rate.
Recommended budget value: $349.3 million
Increase over current year: 8.3 percent ($26.8 million)
Proposed real estate tax rate: 80.8 cents/$100 assessed value
Current rate: 76.6 cents/$100 assessed value
Impact: The annual tax bill on a property assessed at $300,000 would increase from $2,298 to $2,424 at the proposed rate.
Proposed raises: 2 percent for county staff
So – the tax rate cannot go higher than 80.8 cents/$100 assessed value. And it could stay at 76.6 cents. Of the proposed 4.2 cent increase, nearly half of that would be dedicated to the Albemarle County schools. This should be an interesting debate.
If you’re curious to learn even more about the Albemarle County budget, the County has a lot of information on their site.
That works out to a 6% increase in the property tax rate. That’s a steep increase. I didn’t get a 6% raise this year.
I wonder if the relative inexperience on the board contributed to where the proposed rate ended up? Would a more experienced board have been less-swayed by the turnout by those requesting higher funding for the schools and come in with a rate closer to that proposed by the professional staff?
I don’t think many people got 6% raises this year. I find it surprising that it costs nearly $12k to educate a student in the County public schools – and think this to be a great argument for vouchers.
That said, I don’t know about the Board yet. It seems that they’ve rapidly come in and are seeking to raise rates significantly. It should be an interesting debate …
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From an offline commenter:
“a budget increase of 8.3% is outrageous.
i live in massachusetts where we are known for high taxes, but each municipality cannot legally increase annual RE taxes by more than 2.5%. a special referendum (a vote of registered voters) must be held if the politicians want a larger than 2.5% increase. i’m surprised that albemarle county doesn’t have some kind of built-in legal limit.”
I hope this doesn’t come as a surprise to anyone who bought the anti-Bypass rhetoric and elected Democrats. Democrats raise taxes. That’s what they do.