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Board adopts 81¢ real‑estate tax rate for FY27, using $2.9M in one‑time funds
Summary
After a public hearing and debate about school funding and personnel costs, the Isle of Wight County Board of Supervisors voted 3–2 to set the real‑estate tax rate at $0.81 per $100 for the fiscal year beginning July 1, 2026, drawing $1.4 million from a farmers‑market appropriation and $1.5 million from unassigned funds.
The Isle of Wight County Board of Supervisors voted 3–2 to set the real‑estate tax rate at 81¢ per $100 of assessed value for the fiscal year beginning July 1, 2026, adopting a package that uses $2.9 million in one‑time funds to narrow an estimated budget shortfall.
Supervisor Rountree moved to “levy for the fiscal year beginning 07/01/2026, a tax rate of 81¢ per $100 of assessed valuation,” and the motion passed on roll call with Ealy and Garner joining her and Acree and Chairman Jefferson dissenting. County staff told the board that option 3 relies on $1.4 million from a previously appropriated farmers‑market line and $1.5 million from unassigned fund balance to lower the rate to 81¢.
County Administrator Don Robertson summarized the fiscal picture during the public hearing, saying that the budget “at this point stands at $120,000,000” and that the gap in revenue was roughly $2.1–$2.9 million before the board selected the one‑time funding approach. Robertson also noted the tradeoff: using one‑time funds reduces the immediate tax impact but can create pressure on future rates when one‑time balances are no longer available.
Supporters of moving the rate argued the package would help the county recruit and retain public‑safety and school employees; opponents warned that reassessments next year will amplify any rate increase. Resident Jordana Luck told the board the combined effect of a rate increase and an upcoming reassessment would be painful to households; Volkin, speaking for retirees, said bluntly, "When you raise taxes, it comes out of the quality of life."
Chairman Jefferson asked staff to provide updated projections for the upcoming budget year; Robertson said staff could prepare preliminary estimates but cautioned that pending state budget decisions and other unknowns limit precision. The tax ordinance language cited during the motion referenced state tax authority under the Code of Virginia as read into the record during the motion.
The tax rate ordinance adopted at the meeting will take effect for the fiscal year beginning July 1, 2026; board members and staff noted reassessment timing next year could require revisiting the rate in future budget cycles.
