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Stafford budget panel recommends tax rate 2 cents lower than administrator proposed Date published: 3/21/2010
BY JONAS BEALS If the Stafford County Board of Supervisors follows the recommendation of its budget committee, it could advertise a real estate tax rate two cents cheaper than what the county administrator has proposed. The Budget and Finance Committee has recommended a tax rate of $1.12 per $100 of assessed value for the fiscal year that begins July 1. The lower tax rate could mean $2.34 million in cuts to the proposed budget. Each penny of the tax rate generates about $1,170,000 in revenue for the county. The $1.14 tax rate used by County Administrator Anthony Romanello in his proposed budget is referred to as the "modified equalized rate," to make up for a reassessment that brought a steep drop in most property values. That means the average homeowner would pay the same amount in taxes as last year, even with the dramatic increase in the current 84-cent rate. Commissioner of the Revenue Scott Mayausky said that under Romanello's proposed budget, half of the county homeowners would not see an increase in their total real estate tax bill. "We made our recommendation based on the worst-case scenario," Romanello said of his proposal. "State revenues came in better than we thought. We are currently evaluating our numbers and will continue working through the budget process with the board." Supervisors typically set the annual tax rate at or below the rate advertised for public hearing. Adopting a higher rate than advertised would require a second public hearing. The adopted budget must be balanced, so any reduction in the tax rate demands a reduction in expenses or an increase in other revenues. The members of the Budget and Finance Committee are Supervisors Cord Sterling, Susan Stimpson and Gary Snellings. Their recommendation will be delivered at a special meeting of the Board of Supervisors on Tuesday, when supervisors hope to schedule a public hearing on tax rates and the budget. The county budget is typically passed in April. "The proposed budget was just the starting point," Romanello said. "There is still much work to be done by staff and the board." Jonas Beals: 540/368-5036
It would be a lower amount than the rate $1.14 - but still an increase.
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