BEDFORD - The Bedford County Board of Supervisors would have to raise real estate taxes and not lower them significantly over the next two decades if it wants to build two new high schools and a host of other school projects under two spending scenarios outlined Monday night.

In a meeting with the county's financial advisers from Richmond-based Morgan Keegan & Co., the two plans showed suggested strategies that the county could use for building about $104 million in school facilities and a county nursing home, and for financing the costs over 20 years. One of the financial planners, Jim Johnson, stressed to the supervisors that the two plans were examples, not recommendations. "I don't want to say that we're here recommending one step over another," he said.

Under one plan, the county could build a new high school to replace Jefferson Forest High in Forest plus a combination high school and middle school in New London starting next year. The two schools together were estimated to cost $75 million, according to figures provided to the advisers by the county's school system.

Except for the nursing home, whose construction is slated to begin this year, the other projects - gyms at three other schools, a renovation of Staunton River High and Middle schools, and additions at Thaxton and Moneta elementary schools - would be built on a staggered schedule in 2008, 2010 and 2011.

To do all of that, the county would likely need to raise real estate taxes to about 73 cents per $100 of assessed value. The county's current rate is 65 cents.

Even in 2007 and 2011, when the county is due to reassess property values, financial advisers recommended not adjusting the tax rate significantly in order to be able to pay back the millions needed to pay for the projects.

"If the direction of the county is to spend $75 million for two new schools in 2006, this is what you have to do," Johnson said.

A second plan called for building the combination high school and middle school starting in 2008. By deferring the costs for two years, the real estate tax rate would need to be raised to about 68 cents.

Supervisors indicated that either rate, coupled with the reassessments, would be hard to swallow for homeowners.

"Doing nothing is always an option, but I'm not sure it's the proper solution," said Forest District Supervisor Bob Bashore.

The supervisors will continue to discuss their financial options at a meeting next Monday night at 7:30.