Isle of Wight looks to hold line on property taxes

Published 12:00 am Tuesday, April 8, 2008

ISLE OF WIGHT—The proposed operating and capital budget of $99.7 million for 2008-09 was presented to the Isle of Wight Board of Supervisors Thursday, and county officials were quick to point out that there is no planned increase in real estate taxes.

Liesl DeVary, director of budget and finance, said the balanced budget may need some fine-tuning, but asked that it be brought before a public hearing at the April 17 meeting.

The proposed operating budget of $96.3 million reflects a 1.7 percent increase over the current one of $94.6 million, due primarily to increases in debt service associated with the capital improvement plan and expenditures related to the county’s public utilities, according to County Administrator, Doug Caskey.

He added in a letter to the board that in order to maintain current services without raising taxes, the budget does not include participation in Virginia Department of Transportation’s revenue sharing program of $1 million.

Caskey said the budget also includes a 1.7 percent increase in the county’s contribution to school funding. Local funding for education represents 65 percent of the county operation budget.

Other highlights of the financial plan include a 3 percent merit increase in staff salaries, a 14 percent increase for participation in the Virginia Retirement System, a 5 percent increase in employee health care costs and $31,250 in support of the Early Childhood Council.