HAYMARKET, Va. – The Haymarket Town Council voted Monday night to adopt the town’s Fiscal Year 2026 budget and set the new real estate tax rate, concluding weeks of deliberation that included resident impact assessments and internal reviews of capital priorities.
The council unanimously approved three key resolutions during its June 2 meeting:
-
Resolution 2025-006 amended the current fiscal year’s budget to reflect interest reallocation that will fund upcoming council and administrative expenses. This ensures year-end revenues are directed toward planned municipal operations and projects.
-
Resolution 2025-003 established the town’s real estate tax rate at $0.098 per $100 of assessed value, a decrease from last year’s $0.105. Despite the lower rate, many residents will see slight increases in their tax bills due to rising home assessments by Prince William County. The rate was advertised and reviewed in public meetings, as required by state law.
-
Resolution 2025-007 approved the FY2026 operating and capital improvement budget, which funds all town services from July 1, 2025, through June 30, 2026. Budget priorities include public safety, staff operations, planning, and capital projects like Town Hall site upgrades and infrastructure improvements. The resolution also affirmed the adoption process complied with Virginia Code.
Before the vote, council members examined how the tax rate would affect different neighborhoods. Some homeowners will see minor reductions, but those with recently renovated homes or higher market valuations may face increases averaging $5 to $8.
The council also addressed future service costs, especially for trash collection, which is expected to rise due to contractual hikes and the return of county tipping fees. The adopted budget anticipates these pressures while continuing investment in infrastructure and community amenities.
