CHARLOTTESVILLE, VA (CVILLE RIGHT NOW) – Albemarle County residents could be in for a significant increase in their personal property tax rate, but the county’s real estate tax will go unchanged.
The county’s Board of Supervisors voted on those items Wednesday, passing an advertised 15-cent raise in the personal property tax rate, up to $4.43 per $100 of assessed value. This comes after County Executive Jeff Richardson’s Feb. 25 recommendation the rate not be raised this year.
State code requires Virginia’s cities and counties to advertise tax rates before a vote is taken. Rates can be lowered, but they cannot be raised over the advertised levels…