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Title:
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Calendar Year 2026 Real Property Tax Rates. To receive public comment on the proposed real property tax rates for Calendar Year 2026.
(1) Assessment Increase: Total assessed value of real property, excluding additional assessments due to new construction or improvements to property, exceeds last calendar year's total assessed value of real property by 6.2 percent.
(2) Lowered Rate Necessary to Offset Increased Assessment: The tax rate which would levy the same amount of real estate tax as last calendar year, when multiplied by the new total assessed value of real estate with the exclusions mentioned above, would be $0.842 per $100 of assessed value. This rate will be known as the "lowered tax rate."
(3) Effective Rate Increase: The County of Albemarle proposes to adopt a tax rate of $0.894 per $100 of assessed value for calendar year 2026. The difference between the lowered tax rate and the proposed tax rate would be $0.052 per $100, or 6.18 percent. This difference will be...
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