Feb. 24, 2014
Albemarle County residents could be seeing a real estate property tax increase, but the public is getting a chance to weigh in on the proposal first.
The Board of Supervisors will be hosting a public hearing tonight at 6 p.m. the County Office Building. This will be the first of three before supervisors make any decision on a recommended budget.
Last week, Albemarle Co. Executive Tom Foley presented the nearly $350 million budget to the board.
The proposed tax rate increase included in that proposed budget would bump the tax rate from 76.6 cents to 78.3 cents.
The last few years, the county budget was based on an equalized rate. This system means most property owners had the same tax bills because of the economic downturn and real estate assessments.
Foley says the proposed tax hike would help offset operating costs, which have gone up 2.6 percent.
The proposed budget also includes a 2 percent pay increase for county staff.