At the April 16, 2019, Board of Supervisors meeting, the Board continued the FY2020 Budget process by electing to set the real estate tax rate at $1.01 for the coming fiscal year. Before this meeting, the Board voted to advertise the real estate tax rate for public hearing at $1.03.
In other action, the Board voted to cut their $35,000 ($5,000 each) Cost of Living Adjustment (COLA) from the Proposed FY2020 Budget. To encourage the attraction of large distribution centers, the Board lowered the Merchant’s Capital tax for warehouses over 100,000 feet to .0001 cent and lowered the data center tax to $1.25. The Board also adopted a rate of $0.20 for the Lynhaven Lane Service District.
The next step in the FY2020 Budget process is to adopt the final budget, which the Board deferred discussing until its May 7, 2019, meeting. The Board is scheduled to consider its Capital Improvement Program (CIP) at its May 21, 2019, meeting. The FY2020 Budget takes effect as of July 1, 2019.
All information on the FY2020 Budget can be found at www.staffordcountyva.gov/budget, including the Proposed Budget Book, a Budget Summary and the County Administrator Budget Presentation.