Code of Virginia Title 58.1 Taxation Subtitle III. Local Taxes, Chapter 32. Real Property Tax, Article 9. Levy.

A. "When any annual assessment ... of real property by the county ... would result in an increase of one percent or more in the total real property tax levied, such county ... shall reduce its rate of levy for the forthcoming tax year so as to cause such rate of levy to produce no more than 101 percent of the previous year's real property tax levies, unless subsection B is complied with, which rate shall be determined by multiplying the previous year's total real property tax levies by 101 percent and dividing the product by the forthcoming year's total real property assessed value.

My "% Change in Tax Levy" in 2023 is scheduled to increase by 29.6% over what it was in 2022 and by 38.2% compared to 2021. No improvements to the property were made during this timeframe.

My proposed new idea would help me and other Albemarle County residents understand why the Board of Supervisors chose to make affordable housing less affordable by not adhering to the real estate tax levy protection afforded homeowners in subsection A. of the State Tax Code shown above.