BoS Sets Property Tax Rate

Though budget discussion are ongoing, the Albemarle Board of Supervisors voted unanimously this afternoon to set a property tax rate of $0.68 per $100 of assessed value, the county announced in a press release. After county assessments climbed by 15%, county staff proposed a 5.6% spending increase. Supervisors initially had widely divergent views on what the tax rate should be, with a plurality supporting $0.68, and one member each supporting $0.71, $0.72, and $0.74. (Lowering it to $0.58 would have left the average tax bill unchanged.) The board took a stab at a $0.65 rate, but that didn’t pass.

04/12 Update: Jeremy Borden has an engaging look at how $0.68 was arrived at in today’s Progress. Supervisor Dennis Rooker points out that rate is the minimum required, just enough to fund schools at last year’s levels and provide raises to keep teacher salaries competitive.