Albemarle Sets 76.2¢ Real Estate Tax Rate

The Albemarle County Board of Supervisors has voted on a 2¢ real estate tax increase, Carter Johnson reports for CBS-19, settling on the advertised rate of 76.2¢ per $100 of assessed value. The idea is to retain current revenues in real dollars, which requires an increased rate to offset decreased property values. It was a 5–1 vote, with Rivanna Supervisor Ken Boyd voting against it, saying that “we should give more back to the citizens.”

That 76.2¢ rate makes possible the construction of the Crozet Library, many years after it should have been built, and the board accepted a $5.8M bid from a Roanoke construction firm to do so. Construction starts in July. The board also voted against providing funding for increased rent costs for the Northside branch, Aaron Richardson writes for the Progress, despite that it was the county who negotiated that rent increase with the landlord. That leaves Jefferson-Madison Regional Library to figure out where to come up with $15,000 to make up the difference.

2 thoughts on “Albemarle Sets 76.2¢ Real Estate Tax Rate”

  1. I’d like to know why the rent increased for the Northside branch. The shopping center where it’s located seems to be dying (notice the big vacancy where Circuit City used to reside); shouldn’t rents be going down, not up? Perhaps the County could threaten to move?

  2. REALLY good question, Pete. The County negotiated this five-year lease back in 2009, with a collapsing economy AND without involving the Library board or administration. They drove a hard bargain – built-in 5%increases per year. And now they think the Library should just absorb the cost of their failure to negotiate effectively.

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