NEW KENT COUNTY — New Kent County is contemplating a big discount in its real-estate tax fee, though skyrocketing residence assessments nonetheless might imply a slight enhance in some tax payments.
County Administrator Rodney Hathaway advised the board of supervisors at its April 11 assembly that he was recommending a real-estate tax fee of 69 cents per $100 of assessed worth for fiscal year2023.
No residents spoke at two public hearings.
Hathaway stated Virginia code states when any reassessment of actual property leads to a rise of 1% or extra within the complete actual property tax levied, the authority ought to scale back its fee to supply not more than 101% of the earlier 12 months’s actual property tax levies.
“As you’re conscious, fiscal 12 months 2022 is a reassessment 12 months and we now have seen vital will increase in actual property values all through the county. The overall assessed worth of actual properties exceeds final 12 months’s complete assessed worth of actual property by a median of 19.27%,” Hathaway stated.
To mirror the change, the tax degree could be lowered from 79 cents per $100 assessed worth to 66 cents per $100 of assessed worth. Nonetheless, Hathaway is proposing a modest enhance above the equalized fee.
“Final month’s funds advice proposed a 69-cent actual property tax fee “nonetheless making New Kent one of many lowest tax charges within the area,” he advised the board.
Though the proposed tax fee is 10 cents decrease than the earlier fee of 79 cents, the proposed fee could be a 3-cent enhance due to the equalized fee of 66 cents, Hathaway stated.
No change is proposed to the county’s private property tax fee, though workers are breaking out a decrease tax fee for leisure autos and boats.
Thomas Evelyn, chairman of the board of supervisors, requested the county take into account a decrease fee for autos. “I might ask you to have a look at possibly doing a decrease fee for autos as a result of folks do should get backwards and forwards to work each day in autos,” he stated.
“It’s loopy what vehicles are being assessed for. I’m assuming we’re going to have much more cash on the non-public property aspect on autos this 12 months,” Evelyn stated.
Hathaway stated the county continues to be ready for private property tax assessments from the Commissioner of Income’s Workplace.
By promoting a fee of 69 cents, the county can not determine on the next tax fee however might go decrease, Hathaway stated.
New Kent Faculties superintendent Brian Nichols advised the April 12 college board assembly {that a} decrease actual property tax fee might have an effect on the college division’s plans for progress and will entail cuts.
Haynie Morgheim, the college division’s government director of finance and funds, warned faculties might should make a further $300,000 to $400,000 in reductions over the unique funds if the county decides on a fee beneath 69 cents. The college board is already shaving $200,000 off Nichols’ unique funds.
“That is simply the beginning on the potential additional reductions on what we would should convey again to you for assessment,” Morgheim advised the college board. Whereas the cuts wouldn’t eradicate workers presently in positions, directors say it might impede recruitment.
David Macaulay, davidmacaulayva@gmail.com
