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By DAPHNE HITCHINSON
Rappahannock N**hn Staff XI ril«*r
The decision by the Rappahannock supervisors to delay implementation of the new 100 percent fair market assessment figures may come back to haunt the county.
The state department of taxation conducts a sales ratio study the year following a 100 percent market value assessment, comparing the new assessment figures with actual sales for that year. Law requires that reassessment values must be at least 70 percent of actual sales values. Should the ratio fall lower. ABC (Alcohol Beverage Control) funds are withheld and penalties and interest deducted until the minimum is met. If Rappahannock's values are 60 percent of actual sales, appraisals can't just be raised bv 10 percent. Instead, the county must conduct another reassessment.
Asked what the chances are for Rappahannock to meet that 70 percent mark with the delay of the implementation of the fair market values, appraiser
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