Berkeley County tax rate expected to stay the same

March 16, 2004|by DAVE McMILLION

MARTINSBURG, W.Va. - The regular tax levy rate for schools will remain the same in the 2004-05 fiscal year under a proposed levy rate approved by the Berkeley County Board of Education Monday night.

The levy rate, which has not changed in 10 years, will be 40.96 cents for every $100 of assessed value of residential property in the county, said Berkeley County Assistant Superintendent of Schools Jim Welton.

There are different rates for property such as farm equipment and commercial property, and a total of about $13.8 million in tax revenue will be generated through the levy rate in the fiscal 2004-05 year, Welton said.

Although the levy rate is unchanged, school officials said they cannot say that property taxes in the county will remain the same because property assessments are increasing.

The school board also approved a proposed excess levy rate of 45 cents per $100 of assessed value on residential property, Welton said.

The rate represents the second year of an excess levy rate that Berkeley County voters approved for the school system in 2002, he said.

The excess levy rate will generate roughly $15.5 million in the fiscal 2004-05 year, Welton said.

The school board also approved a debt service rate of 11.98 cents per $100 of assessed value of residential property. Money generated from that source, estimated at roughly $4 million, is used to pay off bonds and interest on bonds, Welton said.

The rates approved by the school board are proposed rates. The board has to wait until April 20 to take final action on the rates.

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