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visors how the formula works. Figures from 1989 w ere used to figure the composite index for the coming year, he said. The major component of the index is the “true value of property.” In 1989 the state had a figure of $678 million for the value of property in Rappahannock. That works out to about $736,000 for each of the 921 students in Rappahannock’s schools that year, or about $104,000 for each person in the county. In comparison the state as a whole had $323 billion in “true value of property” that year, which works out to $330,000 per student and about $53,000 per person.
The figures for adjusted gross income per student and per person also show Rappahannock above the state average, but not as much as the figures for property values. Only the figures for taxable retail sales per student and per person show Rappahannock below the state average, but those figures only account for about 10 percent of the Ld.
Dr. Gangel said that he won’t know until after the General Assembly meets how' the new LCI will affect Rappahannock, but he added he
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