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The tax rate should be 87 cents

On Saturday, March 15, the Arlington County Board will vote to advertise the real estate tax rate for Calendar Year 2003. The Manager is proposing the Board advertise a rate of $0.993 per $100 of assessed value, which is the current rate.

Two key pieces of information are buried in the Manager's memo to the Board, however. One is the "lowered tax rate" that is necessary to offset increased assessments. This rate is $0.871, and would produce the same amount of real estate tax as last year.

The second key piece of information is the "effective tax rate increase," which is the difference between the lowered tax rate and the proposed tax rate, i.e., $0.122 ($0.993 - $0.871), or 14.0%. This information is contained in Attachment V of the Manager's memo to the County Board, which you can find here.

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