Shenandoah County leaders to hear public on budget, taxes
WOODSTOCK – Shenandoah County homeowners could see their tax bills increase slightly if the Board of Supervisors raises the rate as proposed.
Supervisors plan to hold a public hearing on the proposed fiscal 2018 budget and tax rate during a special meeting at 7 p.m. Thursday in W.W. Robinson Elementary School, 1231 Susan Ave., Woodstock.
The county advertised a real estate tax rate of 64 cents per $100 of the assessed value. The board can approve a rate at or below but not over the advertised levy. The proposed rate, if approved, would reflect a 4-cent increase over the current levy of 60 cents per $100.
Property valued at $200,000 generates a tax bill of $1,200 at the current rate. The bill would increase by $80 or approximately 6 percent to $1,280 if the board adopted the 64-cent rate as proposed. Property valued at $300,000 generates a tax bill of $1,800 at the current rate. The bill would increase by $120 to $1,920 under the proposed levy. Property valued at $1 million produces a bill of $6,000 at the current rate and would increase to $6,400 under the proposed levy.
The Board of Supervisors agreed to advertise the proposed rate as a way to generate the additional revenue to balance the fiscal 2018 budget. The proposed budget assumes the county sees an increase in local revenue from all property taxes from $40.24 million to $43.4 million. The spending plan estimates the county would collect $55.29 million in local revenue compared to $52.65 in the current budget.
The proposed budget calls for the county to increase spending in most of the major categories for a total of $62.86 million. The amount reflects an increase in spending in the county’s general fund of approximately $2.46 million or roughly 4 percent from the current budget cycle.
The budget calls for a public schools operating fund of $68.34 million that includes $35.1 million in state money and $2.98 million in federal aid.
Contact staff writer Alex Bridges at 540-465-5137 ext. 125, or email@example.com