The $115 million budget, including $5.3 million in capital expenses, is based on keeping tax rates the same as they have been for the past three years. Real estate will be taxed at 72 cents per $100 of assessed value, while personal property (mainly cars and trucks) will remain at $2.43 per $100.
Tax rates have not gone up since 2016, when the board raised the personal property rate from $1.90 per $100 of value. The increase did not apply to businesses, which have remained at $1.90 per $100.
The increase that year was needed in part because it was the first year the county began paying debt on the James River Water Project. Since then, a strong economy has led to rising tax revenue from assessments, and the board has been able to avoid a rate hike. The real estate rate has remained at 72 cents per $100 since 2015, when it was increased from 68 cents.
The supervisors may find they have to get more creative to avoid rate increases in the next few years, with major expenses on the horizon for Louisa County Public Schools, including expansions at Jouett and Moss-Nuckols elementary schools and the middle school and a new career and technical education building at the high school. Other county agencies such as the Department of Fire and Emergency Services are likely to continue to grow along with the population.
There could also be new costs associated with the Shannon Hill Regional Business Park, including extending water and sewer and gas lines to that area. County officials hope the state will help pay for some of that work through grants.
(Article by David Holtzman)
This is a partial article. Read the full story in The Central Virginian’s April 18, 2019 issue.
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