by Megan Schiffres
HEATHSVILLE—Northumberland supervisors further scrutinized a proposed real estate tax increase for the next fiscal year during a meeting of the board last Thursday.
The county initially proposed a real estate tax increase of 5 cents, from 59 cents to 64 cents per $100 of assessed value. Due to concerns related to the financial impact of the COVID-19 virus pandemic on its residents, board members on Thursday, June 4, instead considered a real estate tax increase of 2 to 3 cents, for a total of 61 or 62 cents per $100 of assessed value.
“Coming off of the reassessment, our equalized tax rate is 0.6184 cents. So, at a 62-cent tax rate that leaves approximately $146,432 in deposit,” said county administrator Luttrell Tadlock. “At a 61-cent tax rate, we would dip into the general fund approximately $128,000.”
These reductions to the proposed real estate tax rates in the county are the result of…There's more to this story...
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