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Tax rates to fall – Fluvanna Review

Tax rates to fall – Fluvanna Review
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Supervisors eye budget and tax rates – Fluvanna Review


Correspondent
The Board of Supervisors met on Wednesday night (April 14) for public hearings on the FY21 budget and the tax rates.
PUBLIC HEARINGS
“This year was a pretty amazing year for reassessments,” said management analyst Liz McIver. Real estate assessments rose 6.87 percent.
The real estate tax rate in the adopted FY21 budget was $0.925 per $100 in assessed value. For FY22, the proposed rate was $0.92 and supervisors have advertised a rate of $0.884. McIver calculated the equalized tax rate at $0.865.
Under state law, the county was required to hold a public hearing because the reassessment resulted in an increase of one percent or greater in the total property tax levied. ....

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