No tax rate changes proposed
The Prince Edward County Board of Supervisors is not proposing any changes to the county’s existing tax rates in its Fiscal Year (FY) 2021 budget.
This matter was covered in the budget work session portion of the board’s April 14 meeting.
“While it was a challenging budget to put together because of the unknowns, I think the county is well positioned to ride out this economic turmoil,” County Administrator Wade Bartlett said in an April 17 interview, alluding to the impact of the COVID-19 pandemic.
He affirmed the tax rates are remaining unchanged because the county is in a solid position financially right now.
“We’ve already collected the vast majority of our taxes before this (pandemic) happened,” he said. “We collect our real estate and personal property in December, so we’ve already collected that.”
Though all tax rates are set to remain the same, Bartlett does expect a decline in sales tax revenue.
Bartlett noted that because the Revenue Fairness Bill recently passed, the county will soon have the authorization to levy new taxes, but he is not recommending any of them to the board.