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By SHARON KILPATRICK
Rappahannock News Staff Writer
Rappahannock’s Local Composite Index (LCI), the measure the state uses to determine the county’s ability to support public education was increased from .642 for the 1994-96 biennial budget to .7411 for the 1996-98 budget.
According to this measure Rappahannock is the fourth wealthiest county in the state, exceeded only by Arlington, Bath and Surry counties. Those three have composite indexes of .8 the highest possible. In the case of Bath and Surry counties the high index results from major Virginia Power installations.
None of the other counties had such a large increase from one budget to another, .0991 for Rappahannock. The next largest was .0496.
At the Board of Supervisors meeting earlier this month County Administrator John McCarthy estimated that the higher LCI would mean about $200,000 less for the county in state aid for schools in each of the next two years.
The LCI is computed using the “true” value of real estate, adjusted gross income and taxable retail sales for each locality divided by the number of students in average daily membership and population. The new index was calculated using figures from 1993.
88.5%