ROANOKE TIMES 

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

DATE: SUNDAY, March 5, 1995                   TAG: 9503070003
SECTION: VIRGINIA                    PAGE: A1   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Short

THE REVENUE GAP

Local governments complain that residential development is a money-loser.

Here's how much a house would have to cost if property taxes alone had to pay for running the county schools:

Botetourt County: $571,600

Bedford County: $673,387

Montgomery County: $696,000

Franklin County: $865,800

Of course, there are other tax revenues available - from personal property taxes, from sales taxes, from state aid. Still, even when all those other sources are considered, residential development still doesn't pay for itself taxwise, local government officials say.

Botetourt County administrator estimates a home must be worth this much before its owner starts paying enough taxes to cover the services the locality provides: $150,000

Average assessed value of a home in Botetourt County: $70,000 


 by CNB