by Jackie Nunnery
HEATHSVILLE—Following a recent suggestion about raising Northumberland’s land use value tax rates in an effort to raise more revenue, Commissioner of the Revenue Todd Thomas on Thursday, January 8, offered details to supervisors regarding related history and financial impacts.
Currently, Northumberland allows for qualifying agricultural, forest and open space to be taxed at a lower rate based on its use rather than taxed at its fair market value. Land use taxation legislation was adopted by the Virginia General Assembly in 1971 as a way to encourage the preservation of land. The land use tax rate can only be changed during a general reassessment.
Thomas said of the 19,032 parcels of land in the county, 1,217 or 6.39% are taxed based on land use. “It’s costing the county about four cents on the tax rate to preserve natural resources….
