The composite index- what is it and why should I care?
The composite index or CPI is the state formula used to divide education dollars. It compares income levels, current tax rates, property values, other tax revenue, all features which describe a community’s “ability to pay.” Our ability to pay has increased in 2010 compared to other places mainly because our real estate values have not fallen as far as others. “It’s all relative” actually applies here. Our CPI went up, meaning we would receive fewer state dollars ($5.2M less). Albemarle County also has some extremely wealthy people, whose income tends to raise the income statistics for the entire county. The composite index is evaluated every two years.