Henrico presents FY26 budget with 2¢ real estate rate cut, defers final adoption to April 8

Henrico County staff presented highlights of the county manager’s proposed fiscal year 2026 operating and capital budgets on Tuesday, March 25, outlining a $1.355 billion general fund and a capital program of more than $416 million that include proposed tax relief and new investments in schools and public safety.

The proposed budget includes a 2¢ reduction in the real estate tax rate and reductions in personal property tax rates, a proposed countywide 6% salary increase for eligible employees, and significant capital spending including nearly $200 million for water and sewer projects. County staff said education and public safety account for roughly 78% of the operating budget and that more than 82% of the general fund’s growth is dedicated to those two areas.

In presenting the plan, Mr. Crawford (presenter,…