IOW to hold line on real estate taxes

Published 9:32 am Saturday, May 5, 2012


ISLE OF WIGHT—The Isle of Wight Board of Supervisors has proposed a $95 million budget that holds the line on real estate taxes. However, a tax of 2 cents per $100 of assessed property value is proposed for fire and rescue services.

In related matters, the county’s school board has proposed a $61.8 million budget for 2012-2013. That’s $3.9 million more than this year’s spending plan. The budget calls for no layoffs, including an earlier discussion that involved eliminating nine lead teaching positions to save $600,000. Instead, the nine will fill vacancies from resignations and retirements, said Phillip Bradshaw, the district’s chief financial officer.

The public can comment on the both spending plans during a 7 p.m. Thursday, May 10, meeting at the courthouse.

The real estate tax rate is 65 cents, which means the owner of a property valued at $250,000 will pay $1,625 in property taxes. If the additional 2-cent increase is approved, that same bill would increase $50.

The proposed budget does not have program or personnel reductions or additions.

School district spokeswoman Katherine Goff said the board “budgeted as needed to meet school goals.”