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Warrenton Democrat Jerry Wood, candidate for the 31st District House of Delegates seat, announced recently that, if elected, he will push to give localities the power to cap their taxes at 5 percent annually.
Mr. Wood backs the concept because of the concern he’s heard of people who say they’re getting taxed out of their homes, and hurt by large incremental tax increases, according to a press release issued by his campaign.
Said Mr. Wood, “As I’ve been going around I’ve heard people saying that they can’t afford to pay any more in property taxes, and they especially can’t afford large jumps in their taxes. I think counties should have the power to cap their taxes. Five percent is enough.”
The cap, applicable to private, residential property, would come in the form of. enabling legislation from the commonwealth. The power to place different tax rates on private, residential property would have to granted to the Commonwealth by its citizens in the form of a constitutional amendment to Article X of the Virginia Constitution.
Mr. Wood presently envisions the cap to be an act of the Board of Supervisors, as opposed to voter referendum.
“I think its a good long term goal, and one that could provide some realistic caps on property taxes,” he said. *
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