THE VIRGINIAN-PILOT 
              Copyright (c) 1994, Landmark Communications, Inc.

DATE: Wednesday, September 21, 1994          TAG: 9409210507
SECTION: LOCAL                    PAGE: B5   EDITION: FINAL 
TYPE: METRO BRIEFS 
DATELINE: ISLE OF WIGHT                      LENGTH: Short :   28 lines

TAX RATE CUT

The Board of Supervisors voted unanimously Tuesday to decrease the real estate tax rate by 2 cents.

The action came after recent reassessments resulted in a 9 percent increase in real estate tax revenues.

County Administrator Myles Standish told the supervisors that reducing the rate from 74 cents per $100 of value to 72 cents would help the county compete economically in the region.

The decrease means that the owner of a $100,000 home will pay about $20 less in real estate taxes.

The 1994-95 fiscal budget was planned using a 6 percent estimated increase in assessments. And even with the lower tax rate, Standish said, the county still would be able to fund the budget and plan for capital improvements and school construction.

KEYWORDS: ISLE OF WIGHT COUNTY BOARD OF SUPERVISORS by CNB