If you rent a home in Louisa County, you can stop reading now because this won’t affect you. However, if you own property, this story relates to you.
The Louisa County Board of Supervisors has approved advertising a real estate tax rate for FY 2015 of 68 cents per hundred—that’s three cents more than you are paying now. Personal property tax rates will remain the same at $1.90 per hundred.
The county estimates revenues of $92.3 million in 2015 and expenses at $91.8 million, with an operating deficit of $445,000. No raises are included in the proposed budget for school or county employees and supervisors are discussing ways to generate enough revenue.
County Administrator Robert Dubé on Monday night recommended a two-cent increase on real estate in the next year, but the supervisors wanted to make sure that they had some wiggle room as they continue to go over the budget line by line. There are many unknowns in the budget.
Supervisors are not able to increase the tax rate higher than what is advertised, but do have the option to lower it. To meet legal advertising guidelines, according to Dubé, a tax rate had to be advertised to residents before the board’s next meeting.
To read the entire story, see the April 10 edition of The Central Virginian.