On Friday March 2, 2007, Albemarle County Executive Bob Tucker unveiled his recommended County budget for fiscal year 2008. The total operating and capital budget is over $315 million dollars. The proposed operating budget alone is $266.1 million, representing a 6.7% increase over the prior fiscal year. The budget is based on maintaining the 2006 property tax rate of $0.74 cents per $100 of assessed value. Local taxpayers saw annual property assessments increase on average 14.9% last year (almost 30% over two years). Assessments are projected to increase 11.5% next year and 5.2% on average in each of the four years after that. [Read more on Charlottesville Tomorrow’s blog]