Residents will get a chance to comment on Stafford County’s proposed property tax increase at a live broadcasted public hearing on April 21 at 7 p.m.
At this meeting, the Board of Supervisors will adopt a budget for the Fiscal Year 2021, which begins July 1.
There are two main tax increases factored in the budget.
The proposed tax increase would bring the real estate tax from $0.97 per $100 of accessed value to $1.03, as proposed by the Board of Supervisors. If approved, the average tax bill would be about $3,252.65, about $170 more, for a home valued at $325,000 — the average home price in the county.
Homeowners with a mortgage would likely see an increase in thier monthly bills.
The $1.03 rate proposed proposed by the Board of Supervisors is two cents higher than the $1.01 rate proposed by what Stafford County Administrator Tom Foley. At that rate, the average tax bill would be $3,287.55, an increase of about $100.
Already, Real Estate property is about five percent greater than last year due to increased property values. To match the same amount of tax that was levied last year, tax rates would have to be set at 97 cents per $100.
The personal property tax rate is also being raised by 29 cents from $6.46 to $6.69.
Many other taxes are being set at the same rate from 2019, to include taxes on aircraft, fire and rescue, boats, camper trailers, computer equipment, and mobile home.
A larger driver for the increased budget is schools as school funding is increasing 7.1 percent this year.
The proposed budget is larger than last year’s by 4.7 percent and comes in at $335 million.
The increase comes as Stafford County Administrator Tom Foley told the Board of Supervisors on April 7 that the county faces a $6.5 million loss in revenues to finish out the Fiscal Year 2020, due to the spread of the coronavirus.
The county is expected to start the new fiscal year, $2 million in the hole. On that news, Foley says he plans to place a freeze on capital projects like road construction, give no new additional funding to the county’s schools, institute a hiring freeze for local government employees. He also shelved a plan to provide employee pay raises.
Foley also paused a pay study that examined the rates of pay for police and fire crews in the county who, for years, have left the county for higher-paying positions in Northern Virginia jurisdictions like Fairfax and Prince William County, as as well as federal agencies.
