THE VIRGINIAN-PILOT 
              Copyright (c) 1995, Landmark Communications, Inc.

DATE: Wednesday, May 3, 1995                 TAG: 9505020131
SECTION: ISLE OF WIGHT CITIZEN    PAGE: 10   EDITION: FINAL 
SOURCE: BY LINDA McNATT, STAFF WRITER 
DATELINE: ISLE OF WIGHT                      LENGTH: Short :   36 lines

SUPERVISORS SAY THEY'D LIKE TO CUT TAX RATE AGAIN

Local residents could get a tax break this year if the county Board of Supervisors follows through with plans to look at reducing the real estate tax rate for the second year in a row.

Last year, the supervisors reduced the tax rate by 2 cents per $100 of assessed valuation after reassessments brought in unexpected revenue. This year, the supervisors agreed at their meeting last week, they'd like to do the same thing. The tax rate is now 72 cents per $100 of assessed value.

And much of the good news in the budget can be credited to more and more newcomers moving into Isle of Wight County.

Finance Director Chris Ledford told the supervisors that tax revenue for 1995-96 is expected to be about 11 percent higher than last year, due to growth and development in the county, as well as to last year's reassessments.

In addition, more students in the schools could mean more money from the state. About $130,000 is expected to be left from last year's School Board budget. State funds are based on average daily attendance, which was higher than expected.

And it could be used to help lower the tax rate, Supervisor Phillip Bradshaw suggested.

The supervisors approved a $28.4 million operating budget for the schools that includes a 2.5 percent pay raise for teachers and other employees and the hiring of seven more teachers to meet increased enrollment projections.

A public hearing on the tax rates is scheduled for 7 p.m. May 18. by CNB