The Gloucester Board of Supervisors will hold a public hearing on a proposed adjustment to the county’s real estate property tax at its Dec. 1 meeting. At this time the meeting is scheduled to be held in the T.C. Walker Education Center Auditorium.
This spring, the county’s budget for fiscal year 2021 was made on the leveraging of a real estate valuation increase associated with the reassessment that was done in January. The board agreed to keep the tax rate at $0.695 per $100 instead of lowering it to $0.659 to adjust to the value increase.
If the rate had been adjusted, it would have yielded the same amount of real estate tax as last year. Since it resulted in what is in effect an increase, it must be advertised as such, even though the tax rate will not be changing.
The board is required by law to hold a public hearing when the value of property changes and the resulting tax levy exceeds 101 percent of the prior year.
According to County Administrator Brent Fedors, publ...
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