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By Dominic Bonaiuto
Rappahannock News Staff Writer
Republican Jerry Kilgore and Democrat Tim Kaine have introduced competing proposals to ease the burden on local real estate taxpayers.
Kaine was first out of the box last week, saying he will push for a constitutional amendment allowing cities and counties to exempt up to 20 percent of a house’s assessed value when it comes time to calculate the actual tax bill.
“Many people have had the experience of their homes increasing in value on paper, but they cannot access that to help pay for the increased taxes,” Kaine said during a conference call with reporters while touring Northern Virginia.
Kilgore followed suit this week proposing his own constitutional amendment for a 5-percent cap on the annual increase in residential assessments unless a property is sold or improved.
“Under my plan, tax relief is not an option left to local officials; it’s a guarantee from me to you,” he said at a Tuesday rally in Arlington.
Kilgore said it is deceptive for local officials to say they’ve cut taxes by lowering the tax rate when bills are still going up due to higher assessments.
Home owners across Northern Virginia sire staring at increases of 20 percent or more this year alone. Most have seen their values, and their tax bills, double in the last four or five years.
92.4%