Rockingham County Likely to Increase Real Estate Tax Rate by Four Cents


Rockingham County Likely to Increase Real Estate Tax Rate by Four Cents
By Scott Rogers • April 14, 2017
Rockingham County's budget for the 2018 fiscal year (which begins July 1) includes a proposed $0.04 increase in the real estate tax rate, which would increase from $0.70 to $0.74 per $100 of assessed value. Some context.... It would appear that this $0.74 real estate tax rate may be the highest real estate tax ever levied on property owners in Rockingham County. The previous high was $0.71, which was in place between 2000 and 2005. It seems that this will be the third consecutive year of increased taxes -- which will have jumped from $0.64 (2014) to $0.68 (2015) to $0.70 (2016) to $0.74 (2017). This will mark a 15.6% increase in the real estate tax rate over a three year period. The median sales price of homes in Rockingham County in 2016 was $203K. If all homes were assessed at their market values, this $0.04 increase between 2016 and 2017 would equate to an annual increase of $81.20 in real estate tax on a median priced home. This would be an increase of $6.76/month -- just a bit less than a Starbucks Venti, Quad-Shot Caramel Macchiato. Rockingham County held a public hearing this week and nobody (that's right, count them, zero people) made any comments about whether they thought it was OK for these tax rates to increase. Read lots more about WHY the tax rate needs to increase here.... County Eyes More Taxes, Fees Daily News Record, April 5, 2017 No Comments At Budget Hearing Daily News Record, April 13, 2017 Receive Updates by Email Recent Articles: Is There A Price You WOULD Pay For This House? There Are Plenty Of Types Of Houses That Exist That Just Are Not Available To Purchase Home Sales By Price Range In The City Of Harrisonburg Are You Compromising On Aspects Of Your Next Home That You Can Or Cannot Change Later? How Much Slower Are The Winter Months In Our Local Housing Market? Rockingham County and New Home Sales Drive Surge in Area Housing Market Find The Balance Between Optimistic And Realistic Home Pricing Room Size Is Difficult To Understand Solely From Real Estate Photos How Much Would You Value Not Having To Prepare Your Home For Showings? One Out Of Four Homes Is Taking Longer Than A Month To Sell
Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com
Based on information from the Harrisonburg-Rockingham Association of REALTORS® or its MLS, for the period Jan 1, 2000 through Nov 24, 2024 (unless otherwise noted).
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