The Fiscal Year 2023 (FY23) Budget went into effect July 1, 2022. The budget totaled $90,457,544. Among listed appropriations were a General Fund total of $27,759,396, Debt Service Fund totaling $8,607,797, a Central Virginia Transportation Authority Fund totaling $2,439,376, a School Governmental Fund total of $14,604,837 and a School Nutrition Fund totaling $1,863,109. Here's a recap of tax rates:
The 2022 real estate tax rate is set at $0.67 per $100 of assessed value. This is $0.01 above the equalized rate of $0.66. The 2021 rate was $0.79 per $100.
Personal property tax rates were dropped from $3.75 to $3.10 for vehicles and $3.25 for motorhomes, RVs and boats.
The Bottoms Bridge Sewer/Water Ad Valorem tax was set at $0.05 per $100 of assessed value which was a $0.05 decrease per $100.
All other tax levies remained unchanged.
The FY23 Capital Improvement Projects Budget, for various Capital projects from various departments, totaled $3,779,239. Three of the listed projects including a new animal shelter, Fire Station 4 and renovation of the Historic School have been expedited with recent borrowings.
The FY23 Public Utility Fund Budget totaled $9,635,584. There were no changes for water and sewer rates or connection and availability fees.
Check out the detailed budget.
