Surry County adopts personal property rate, leaves real estate rate unchanged at 71¢

The Surry County Board of Supervisors voted to set the fiscal-year personal property tax rate at $3.75 and to leave the real estate tax rate unchanged at $0.71 during a public hearing and budget discussion on the proposal.

County staff presented the budget and supporting materials before the hearing, detailing revenue drivers, reassessment impacts, one-time and recurring items and a proposed capital improvement program. The presenter said the proposed budget relies on a mix of recurring revenue and one-time inflows, and recommended a one-year approach to the county’s CIP for fiscal 2026.

The presentation outlined several key figures: a limited-scope reassessment reduced the county’s sales assessment ratio and required removing $422,000 from projected revenues after a preliminary 97% sales ratio; county leaders earlier approved a $340,000 supplemental transfer to schools that would have been covered by a 100% sales ratio had that ratio held. The presenter also said a change in the…