People living in Albemarle County will soon see a jump in taxes. The Albemarle County Board of Supervisors voted 4 to 2 to approve a 3.3 cent increase.
Supervisors hoped to accomplish two goals - finalize a tax rate and finalize a budget - at Tuesday’s meeting. While supervisors did approve a new tax rate, the budget is still up in the air. Supervisors adopted a 79.9 cents real estate tax rate per $100 of assessed value.
Supervisor Ken Boyd voted in opposition of the new tax rate.
"I was opposed to it because I thought it was too high of an increase to put on top of the appraised rates that went up on values of homes,” said Boyd.
Of the 3.3 cent increase, .7 cents will be dedicated to water resource mandates from the state, 1.7 cents will be shared between schools, general government, and the capital fund, and .9 cents will be solely dedicated to schools.
"We've spent a lot of time working back and fourth among the various values on the board,” said Jane Dittmar, chairwoman on the Albemarle County Board of Supervisors.
Supervisors did not adopt a final budget. Boyd says there are still uncertainties with the state budget, so supervisors will wait for those final numbers. He also says supervisors want to sit down with school board members and find out how they plan to use the funds.
At the new adopted tax rate, a $3.9 million funding gap is still left for schools, based on their funding request.
"I'm hoping we can provide for all of the needs of the county, both on the government side and the school side,” said Boyd.
Supervisors aren't required to formally adopt a final budget until June. The next step is a meeting with school board members, then supervisors say they will have the answers they need to make a final budget decision.