Wednesday, March 16, 2011
Albemarle County Supervisors Holding Property Tax Rate Steady Despite Declining Values and Need For $
Some citizens have implored the Board to raise taxes: just .01 cent would generate $1M in additional revenue--which the public schools soreley need. Albemarle County's property tax base is declining. Additionally, Albemarle County marks Foreclosure sales "Invalid"--meaning they don't use them to assess property taxes. Foreclosures are fast sellers in the County and if their value were counted as "comps," property values would be just a little bit lower. Read more at C-VILLE.