The Mathews County Board of Supervisors approved a $31 million budget last Thursday and adopted a real estate tax rate of $.56 per $100 of assessed value for the 2024 fiscal year after two brief public hearings at which few residents spoke.
The vote was 4-1 on each measure, with supervisor Mike Walls dissenting.
Tax rates
County administrator Ramona Wilson explained during the public hearing on the tax rate that last year’s combined value of all real estate in the county, $1.72 billion, had yielded tax revenues of $10.99 million.
After this year’s reassessment, she said, the combined value of all real estate was up to $2.34 billion, which at last year’s tax rate of $0.64 per $100 of assessed value would yield tax revenues of $15 million, or over $4 million additional, a 37 percent increase.
However, appeals to the assessor resulted in 333 changes being made to home values, said Wilson, reducing the total value of all properties to $2.16 billion, which at the equalized tax rate of $0.53...