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Chesterfield County budget office previews cautious FY27 forecast, flags early economic signals
Summary
County budget staff outlined a conservative FY27 approach after reassessment gains, citing slowing construction activity, softening labor indicators and market signals. Schools’ proposed budget includes an average 5% teacher-pay increase and staff cited a $15 million state funding estimate.
County finance staff presented a cautious revenue outlook for fiscal 2027 and a timeline for the budget process, saying recent reassessment results improve the near-term revenue picture but broader indicators counsel prudence.
“Local residential real estate conditions continue to hold up pretty well,” said a county budget presenter summarizing the briefing that followed the reassessment presentation. He and other staff said the first six months of revenue are effectively more certain because of the reassessment, but that longer-term forecasts must account for economic headwinds.
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