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tax rates compare with those of its neighbors and the state?
Answer: “Rappahannock's property taxes are probably around average for the six contiguous counties in our region, which are themselves lower than average for the state. Virginia property taxes overall are at either the very middle or in the bottom third of the country, depending on how you look at it.”
Question: How much of an impact on the average Rappahannock property owner’s tax bill could the drop in state revenue cause?
Answer: “...if the county loses $400,000 in state revenue for FY09 (I don’t think we know the exact figures yet), it would be more than made up, based on data provided to me by John McCarthy, with a $.03 increase in the property tax rate. By my calculations, that would mean that someone who owns a property assessed at $500,000, who now pays $2,950 in property taxes, would pay $150.00 more, or $3,100.”
Question: If land use were revoked, how much extra revenue would be
the last cell in the Amissville landfill, the Scrabble School renovation project, conversion of a county-owned house near the public library into office space, the Civil War Trails project and replacing computer systems at the County Treasurer and Commissioner of the Revenue offices.
None of those projects requires new taxing, McCarthy said, because they will be funded through accumulated reserves retained for those purposes, funded
63.4%