The Albemarle County Board of Supervisors on Thursday authorized promoting an actual property tax price with no enhance and a lower to the private property tax price.
The county govt’s proposed fiscal yr 2023 price range features a really helpful actual property tax price of 85.4 cents per $100 of assessed worth, the identical as is presently in impact. Due to elevated property assessments, the efficient actual property tax price — the speed that may herald the identical quantity of tax income as final yr — could be 78.8 cents per $100 of assessed worth.
The proposed fiscal yr 2023 price range additionally features a really helpful private property tax price of $3.42 per $100 of assessed worth, a lower of 86 cents or 20% lower than the prior price.
The private property tax price applies to enterprise tangible private property and particular person autos, bikes and boats, in addition to equipment and instruments.
The board may undertake the marketed price or decrease it. A closing public listening to on the price range might be April 27 with a closing vote on the price range and tax price on Might 4.