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Rappahannock has always had a high LC1 but never as high as this. The previous high was .6999. The county’s apparent wealth results from the high value of county real estate and adjusted gross income. The state’s own figures for median family income show Rappahannock below the state average, but on adjusted gross income divided by school children or general population the county ranks above the state average. In taxable retail sales divided by school or general population the county ranks low, but that accounts for only 10 percent of the formula.
The low number of students in average daily membership in March 1994 also accounts for some of the jump. That March the school’s ADM was 983. That number increased last year and is likely to increase even more this year, but it will be two more years before the enrollment gain is reflected in the LC1.
Over the years, especially at election time, there have been suggestions to change the way the LCI is computed. The most popular suggestion with Rappahannock governing bodies has been to take into account “land use” value of real estate rather than relying on “fair market” value. The increasing power of urban and suburban areas in the General Assembly, makes it unlikely such a change, favoring rural areas, will be enacted.
86.0%