Jeff Branscome writes about Spotsylvania County.
County may create two new service taxing districts tonight
At tonight’s meeting, the supervisors will have a public hearing on creating the Lee Hill East and Lee Hill West service tax districts. These districts will tax Silver-owned commercial near the new hospital under construction. The supervisors can avoid having two public hearings by having a joint one with the planning commissioners. Supervisors said the reason they are fast-tracking the process is because these new districts will help pay back general obligation bonds the county will get to pay for new roads that are critical to the hospital’s success.
Before that, supervisors will discuss holding back $5.2 million from the school system as a protection in case revenues continue to fall. This is not as much as supervisors had wanted, but it looks like now they may just agree to hold onto whatever funds they can. According to a quick summary from Commissioner of the Revenue Debbie Williams, the median sale price for a home in Spotsylvania increased 1.90 percent to $188,000 for March 2009, compared with $184,500 for February 2009. The median sale price in January 2008 was $260,000.
Overall, that’s a drop of almost 28 percent in median sale prices in the county. With supervisors basically passing a budget that includes a plan to equalize the real estate tax rate in 2010 to keep revenues the same, some homeowners could see an increase in their real estate tax bills next year.