Albemarle proposes 2024 budget

The Albemarle County Board of Supervisors made a big decision Wednesday, March 15: The 2024 budget and tax rate is now set in stone.
Published: Mar. 16, 2023 at 11:21 AM EDT
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ALBEMARLE COUNTY, Va. (WVIR) - The Albemarle County Board of Supervisors made a big decision Wednesday, March 15 regarding its 2024 budget and tax rate.

The board is proposing that personal property and real estate tax rates remain the same as last year’s. This comes as the prices of used cars and property reassessments in the county rise.

“The board will be deliberating the tax rate for advertising, so what that means is once we set that rate, we can’t go over that amount, but we can go under that tax rate,” Albemarle County supervisor Bea LaPisto-Kirtley said.

The real estate tax will be about 85 cents for every $100 of assessed value. While that’s the same as it was last year, you will likely see an increase on your bill since property assessments went up by about 13%. The personal property tax will stay the same as in 2022, at $3.42 for every $100.

While Wednesday’s open meeting allowed supervisors to finalize the proposal, there is still more time on the clock to make changes.

“Our meetings are coming on April 26th, and we set the final tax rate on May 3rd,” LaPisto-Kirtley said.

The budget covers money ranging from public school funding to transit in the county. The board says that $603,000 are on the table for social services, impacting resources like foster care.

More information on the budget and how the county plans to allot its funds can be found here.

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