Stafford County Commissioner of the Revenue Scott Mayausky delivered a comprehensive presentation to the Stafford County Board of Supervisors on Feb. 20, 2024, regarding increased property assessments.
Mayausky’s presentation, which marked his 12th time addressing the board on reassessments, aimed to shed light on the reasons behind the eye-popping surge in property assessments, which jumped 23% in two years.
Stafford County Administrator Randall Vosburg presented the fiscal year 2025 budget to the Board of Supervisors, highlighting the county’s achievements, population growth, and budget drivers.
The total budget amount for fiscal year 2025 reached a significant milestone, surpassing one billion dollars, marking a substantial investment in the community’s needs and priorities. Vosburg outlined key areas driving the budget, including the county’s robust population growth, which has made Stafford the third fastest-growing jurisdiction in Virginia. With a population exceeding 165,100 and a median household income of approximately $128,000, Stafford County continues to experience economic prosperity and expansion.
Scott Mayausky, Stafford County Commissioner of the Revenue, has released the 2024 bi-annual property reassessment results, revealing significant changes in property values across various sectors. The comprehensive reassessment, aimed at ensuring equitable tax distribution, has led to noticeable increases in property assessments, reflective of the current market values.
Residential properties in the county have seen an average increase of 13% in assessments, indicating a substantial rise in home values. Commercial properties have experienced an even more significant jump, with assessments increasing by 23%, highlighting robust growth in the commercial sector. Agricultural properties are not far behind, with a 14% increase, while multi-family properties have seen a more modest rise of 9%.
The average residential property tax bill in Prince William County for FY2025 is projected to be $5,098, a $243 increase, up five percent from the previous year. The budget keeps the real estate tax rate steady at $0.966 per $100 assessed property value.
This figure represents the financial obligation of homeowners within the county, encompassing the costs associated with various county services and infrastructure projects, as outlined in the proposed budget.
Prince William County police and fire and rescue employees will see pay increases and new benefits oi the coming year thanks to union lobbyists.
Deputy County Executive Quintin Hayes delivered a comprehensive presentation to the Board of County Supervisors, outlining the critical elements of the proposed collective bargaining ordinance, which supervisors approved during their meeting on Tuesday, January 16, 2024.
