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According to records provided by Rappahannock County Commissioner of the Revenue Beverly Atkins, $579,840,900 - or 27 percent of Rappahannock’s 2006 $2,112,509,400 true value of property - is “deferred,” and is therefore eligible for reduced taxation under the land-use bill.
If the true value of Rappahannock land used to calculate the LCI for the 2006-2008 biennium were reduced by 27 percent, the county would have an LCI of .6058. Making this same change in the state formula would increase the state’s share of the cost of educating Rappahannock’s children from 25 percent to 39 percent.
“A colleague told me the General Assembly will never change the LCI formula to reflect land-use values, because it would take funding away from urban and suburban areas that control the majority in the legislature,” Chappell said.
“I hope my friend underestimates the sense of fairness on the part of members of the General Assembly,” he said.
Chappell said one major difference between Rappahannock
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