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Page 1 · column 6 of 9 · from the scan, no model involved
property tax division, reported that a sales ratio study conducted by his office on appraiser Jerry Hall’s preliminary figures found Rappahannock's new assessments running about 78 or 79 percent of actual market value. In the sales ratio study, the Department of Taxation compares actual sales prices as recorded in the clerk’s office with assessments. In order to comply with state regulations and qualify for receipt of ABC revenue, the ratio between sales price and assessment must reach at least 70 percent.)
Unfair Burden
Fletcher also charged that with the new assessments and the availability of use value taxation to large land owners, small lot owners will be carrying an undue burden in county taxes. All land in Rappahannock is assessed too high, he said, but acreage under land use is not effected since the value per acre will be set by the state based on soil type and ability to generate revenue in agricultural production, not on fair nyarket value.
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83.5%