Charlottesville residents want lower tax rate, projected budget keeps it unchanged
In reading cville aka www.c-ville.com I wanted to pass this along
At last night’s City Council meeting, City Manager Gary O’Connell presented a proposed fiscal year 2011 budget that was slimmer than last year's, although both the real estate and personal property tax rates will remain the same. Some residents, however, told Council that it was time to lower the real estate tax rate.
Real estate taxes are the largest revenue source for the city. According to the budget, "[the taxes] are assessed at 100 percent valuation, with tax rates bring applied per $100 of assessed value." The unchanged proposed rate for 2011 is $.95 per $100 of assessed value.
