Pittsylvania County officials hope to gather about $22.3 million in real estate tax revenue in the following year, and the aggregate estimation of county property is evaluated to be about $3.95 billion.
The region's approximate assessed value incorporates about $32 million in building licenses issued in 2015, said County Finance Director Kim Van Der Hyde. District officials exhibited tax revenue appraisals to the Pittsylvania County Board of Supervisors' Finance Committee on Monday evening in Chatham.
The revenue data reported were preliminary estimates and are liable to change.
The evaluated assessment for the incoming fiscal year, $3.95 billion, is somewhat higher than that for the present year, which is $3.92 billion, Van Der Hyde said.
County officials infer the real estate gauge from the measure of evaluated real estate values that were charged in 2015 with the sum of $3.92 billion), Van Der Hyde said. They included every single taxable property that were included from the prior year.
The county's land use evaluation was $3.91 billion, Van Der Hyde said. The county's land use program evaluates farmland in the project at a lower rate for expense or tax purposes to incentivize agrarian utilization. The county included $32 million in building licenses to gather the $3.95 billion figure.
Van Der Hyde said she envisions a modest increment" in area use estimations of $5 million.
County authorities hope to require about $23.3 million in real estate taxes in 2016-17 yet expect gathering around 96 percent of that, totaling about $22.3 million. The area has planned about $22.25 million to be gathered for the current year.
Pittsylvania County's real estate tax rate is 59 cents per $100 of appraised value. Every penny creates $377,134 in tax revenue.
With respect to residential development, the county issued building licenses for about $662,000 in mobile home development in 2015, almost multiplying 2014's $330,000, Van Der Hyde said. The county issued building permits for $4.1 million in modular home development a year ago and about $2.7 million in 2014, says Van Der Hyde.
