After several tie votes this morning, the Board of Supervisors set the 2014-15 real estate property tax rate at 79.9 cents per $100 of assessed valuation, representing a decrease of .9 cents from the advertised rate. This reduction from came entirely from money that had been dedicated to the school division under the advertised rate of 80.8 cents per $100 of assessed valuation.
This action by the supervisors nearly doubles the deficit the school division faces in next year’s proposed budget from the advertised rate’s $2.4 million to what is now $3.9 million. Continue reading