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Prince Edward supervisors hold public hearing on FY‑26 budget, advertise 39 cents tax rate; no action taken
Summary
The Board of Supervisors held a public hearing on the county’s proposed FY‑26 budget and advertised a 39 cents per $100 equalized tax rate after a 2024 reassessment increased values about 37% on average; the board took no action at the hearing per state code and recessed to a vote-setting meeting next week.
The Board of Supervisors of Prince Edward County held a public hearing on the proposed fiscal year 2026 county and school budgets and advertised a 39 cents per $100 equalized real‑estate tax rate after a countywide reassessment, but the board did not take action at the hearing because state code requires separation of the tax‑rate and budget approval in a reassessment year.
Staff member Mr. Stanley opened the meeting by explaining the schedule and the reason for a separate hearing: “Tonight, we're gonna have a public hearing on the FY '26 budget,” and he said the new assessments, effective Jan. 1, are “up, 37% on average,” which required equalizing the rate. He told the board the advertised rate is 39 cents per $100 of assessed value, compared with the current 51 cents and an equalized rate of 37 cents.
Why it matters: The reassessment-driven change in equalized rate changes how the…
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