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professional appraisers to recheck figures. If the county chooses not to appoint this local board, Forberg explained, then it must provide an equalization board to review appraisals after the processis completed.
The danger in relying on figures arrived at jointly by a local board of assessors working with professionals is that "assessments are so low right now. it's going to be difficult to find poeple who are willing to go even close to 100 per cent," Forberg warned.
As of July, 1981, counties that are not assessing local taxes based on at least 80 per cent of fair market value will not receive Alcohol Beverage Control Board revenue from the state, according to Forberg. In the fiscal year that ended July, 1971, Rappahannock's share of ABC profits amounted to S20.575.56.
Forberg predicted that appraisals here at 100 per cent fair market value will run “15. 16 times as high as they are now.” He estimated that the county’s current assessment is based on approximately six per cent of fair market value. "This business of assessing at six per cent is gone forever,” he said, adding that Rappahanock has “always made a conservative assessment and applied a conservative ratio to that.”
In 1974; Rappahannock’s local board of assessors set appraisals at what they believed to be 60 per cent of fair market value. The tax rate each year since 1974 has been applied to 15 per cent of those assessment figures.
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88.4%