Brighter budget outlook in the county
C-VILLE Weekly Tuesday, February 21, 2017 at 7 a.m.
When Interim County Executive Doug Walker presented Albemarle County’s proposed budget for fiscal year 2018 to the Board of Supervisors last week, unlike last year, it did not include a bump in the 83.9 cents per $100 real estate tax rate.
Revenues are projected to increase $21,866,508, or 5.8 percent, thanks primarily to higher real estate values and soaring property assessments. The current adopted budget’s real estate tax increase added $7.8 million to the pot. And for the first time in half a dozen years, Albemarle’s revenue sharing payment to the city will go up—an $88,401 increase for a total of $15.9 million.
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