Gloucester Budget To Be Displayed

Gloucester residents and business owners get a chance to take a look at the county’s draft budget tomorrow night, when the board of supervisors holds a public hearing on the FY-2017 proposal at 7 o’clock in the T.C. Walker Education Center auditorium. The proposed $111 million budget includes a four-cent increase on the real estate tax rate, and a 5 percent pay increase for both county and school staff. If the proposed tax rate increase is accepted when the board of supervisors adopts its budget on April 18, it would change the county’s real estate tax rate from 68 cents per $100 of assessed value to 72 cents per $100 of assessed value. The personal property tax rate of $2.95 per $100 of assessed value will remain unchanged. Here’s what a four-cent increase on the real estate tax rate would mean to you… it would mean an increase of $72 on the average Gloucester homeowner’s annual tax bill, with each additional cent of tax generating about $400,000 in revenue. That means the four-cent proposed increase would generate $1.6 million in additional revenue.