Louisa County supervisors proposing tax rebate
LOUISA COUNTY, Va. (WVIR) - Some people in Louisa County may be on the verge of getting a tax rebate.
The Board of Supervisors could approve a real estate rebate as soon as April in hopes of combatting rising housing prices.
“Our citizens will be paying absolutely the lowest real estate tax rate in this surrounding area,” Chair Duane Adams said.
Adams is also part of the Finance Committee.
“We’re in a very strange economic time here in Louisa County,” he said. “With the inflation that is impacting the country, we have seen assessments rise around Lake Anna - they’ve risen quite a bit - but they’ve also risen across the county.”
That’s why Adams and another supervisor came up with a plan: “We have proposed and the Board has tentatively agreed to a 5% real estate tax rebate, which is effectively $3 million in tax relief to the citizens of Louisa County,” he said.
The proposed rebate would lower the tax rate from $0.72 pre $100 of assessed value to $0.69.
The Board of Supervisors says it can’t make any decision until a state budget is approved. It doesn’t look like that will happen until June.
RELATED: Louisa County discussing tax rebate
Do you have a story idea? Send us your news tip here.
Copyright 2023 WVIR. All rights reserved.