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In comparison, Culpeper farmland increased in value by 183.88 per cent (from $366 to $1,039) Fauquier by 208.11 per cent (from $493 to $1,519), Madison by 221.61 per cent (from $273 to $878), and Orange by 236.71 per cent (from $286 to $963).
The dramatic climb in land values here between 1969 and 1978 leaves Rappahannock trailing slightly behind only Fauquier County in per acre value of farmland.
By contrast, however, Rappahannock lags far behind the rest of the planning district in assessed values of property subject to local taxation and net debt, according to the state auditor of public accounts report on comparative cost of county government.
For the year ended June 30, 1979, Rappahannock’s assessed value per capita was $2,464.26. This compares with $3,671.97 for Culpeper, $4,453.74 for Fauquier, $18,581.47 for Madison and $26,426.18 for Orange.
Judging from tax data, the disappearance of Rappahannock farmland to more intensive uses is not due to the burden of local property taxes.
In 1969, the local tax rate here was $4.10 per $100 of assessed value. In 1978, it rose to $4.20—an increased of 2.4 per cent in taxes compared to the increase in farmland value of 305.59 per cent during the same period.
The $4.20 rate in 1978 was the rate for local property taxes per $100 of assessed market value. That assessed rate translated into a “true effective tax rate” of 24 cents per $100 of fair market value. In comparison, according to figures from the Virginia Municipal League, the 1978 true effective tax rate for Culpeper was 52 cents per $100 of fair market value, for Fauquier 40 cents, for Madison 41 cents and for Orange 49 cents.
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