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that inflated property values make Rappahannock appear more able to foot the bill for education than it actually is. And the county does not receive tax revenue from second homes, he said, because taxes on the properties go to the owners’ counties of residence.
He said the county also misses out on tax dollars from properties in the land-use program. Tb promote agricultural use of land, properties in the program are taxed on the value of what they can produce, not their fair market value. If they were taxed at Rappahannock's rate of 59 cents per $100 of assessed value, the county would receive $3,367,577 in additional revenue. McCarthy did not criticize the program, however, which carries a number of benefits, he said.
Compounding the situation, Rappahannock lacks a commercial tax base to help pay the large percentage of its education budget that its LCI suggests that it can.
McCarthy said Rappahannock has the second highest rate of dependency on real-estate taxes in Virginia, relying on real estate for 70.3 percent of its local revenue. This places tax responsibilities largely on property owners, whereas in other counties, businesses would help share the burden.
For more about the bills and information about writing letters of support, visit the county’s Web site at www.rappahannockfairfunding.com.
Email the reporter at mpelkey@timespapers.com.
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