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Reassessment
does not mean
tax increase
By Gerald Ochs
Rappahannock News Writer
The Board of Supervisors discussed taxpayer concerns about the implications of the recent real estate reassessments, and clarified that the reassessment process is not designed to raise taxes, but to conform to commonwealth requirements that the assessed value of real property is nearly the same as the market value of the property.
Many concerned taxpayers are projecting their 2003 taxes based upon the old tax rate and the new assessed valuations, and conclude that their tax bills will rise extraordinarily.
As Supervisor Bryant Lee (Hampton District) pointed out ,the increased reassessed values mailed to taxpayers don’t necessarily translate to higher taxes, since a new tax rate will need to be established that takes into account the collective increase in assessed valuations.
County Administrator John McCarthy further clarified the situation, noting that if new tax revenues are greater than 10r>ercent of the current fiscal year’s revenues, a public hearing would be required before the rates were adopted.
The bottom line to county taxpayers: wait until the county budget is publicly heard next May. At that time a new, lower tax rate will be proposed and taxpayers will have an opportunity to see if and how much their tax bills will rise.
Mr. McCarthy also noted that
See BOARD, Page A6
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