
                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: THURSDAY, April 18, 1991                   TAG: 9104190637
SECTION: NEIGHBORS                    PAGE: N/6   EDITION: METRO 
SOURCE: Charles Stebbins
DATELINE: FINCASTLE                                LENGTH: Short

BOTETOURT PLANS PUBLIC HEARING ON NEW BUDGET

The Botetourt County Board of Supervisors will hold a hearing on the county's no-tax-increase balanced budget for fiscal year 1991-92 tonight at 7:30 in the old General District courtroom.

The proposed $25.5 million budget - which will take effect July 1 - is less than $30,000 more than the current budget.

The tax rate stays the same - 75 cents for each $100 of property value for real estate, mobile homes and public utilities.

The rate on personal property and machinery and tools also stays the same but in the new budget will be designated differently. These items now are taxed at $6 per $100 valuation based on 30 percent of assessment. In the new budget they will be taxed at 100 percent of assessment. But the rate will drop to $1.80 so the effective rate will be the same.

As usual, schools take the biggest bite - $17.4 million, down slightly from the $17.5 million in the current spending plan.

The biggest source of revenue is property taxes - $8.7 million, up from the current $8.4 million. The state government will contribute $2 million, down from the $2.1 million this year.

And only $272,000 will come from the federal government. In the current budget, the federal government is putting up $356,031.

by CNB