Poquoson officials present FY2026 recommended budget: $40 million, stable tax rate, $600K proposed school transfer

City Manager Randy Wheeler and Finance Director Tara Woodruff presented Poquoson’s recommended fiscal year 2026 general-fund budget during the work session, describing a plan that keeps the city’s property-tax rates unchanged while absorbing reassessment growth and funding pay adjustments for employees.

Summary of key figures: Finance Director Tara Woodruff said the recommended FY2026 general fund totals just over $40 million, an increase of roughly $1.6 million (4.19%) over the FY2025 adopted budget. General property taxes remain the primary revenue source (about $29.6 million, or 74% of general-fund revenue). The budget assumes an average reassessment increase of 7.6% and recommends no change to the real-estate or personal-property tax rates. The real-estate reassessment is expected to generate about $1.5 million in additional revenue; separate property-tax relief programs (elderly/disabled) were projected…