By Diana McFarland
News editor
The average Isle of Wight homeowner saw his tax bill go down about five percent since 2002, according to a random sampling of 100 properties evaluated by The Smithfield Times.
At the same time, the value of those properties rose from $14.7 million to $24.4 million in eight years. The rise in property values corresponded with a decrease in the real estate property tax rate from 75-cents in 2002 to 52-cents in 2010.
“That’s in line generally with our policy of keeping our taxpayers' liability as low as possible,” said Newport District Supervisor Stan Clark...
