King and Queen County adopts $16.7 million FY2024 budget, sets real estate tax at $0.48
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Summary
The Board of Supervisors adopted the FY2024 budget and set 2023 tax rates — including a real estate rate of $0.48 per $100 — citing the need to maintain county operations after reassessment; the measures passed unanimously with one member absent.
The King and Queen County Board of Supervisors adopted the county’s FY2024 annual fiscal plan and set tax rates for calendar year 2023 at its May 8 meeting.
The Board approved a General Fund budget of $16,671,572 and additional funds for schools, capital projects and programs. The Board set the real estate tax at $0.48 per $100 of assessed value, higher than the equalized rate of $0.425 that would have produced no more than a 1% increase over last year, saying the higher rate was necessary to “maintain operations and meet fiscal obligations,” County Administrator Vivian Seay told the Board.
The adopted schedule also establishes personal property tax at $3.94 per $100 and sets the PPTRA credit at 37.5 percent for qualifying vehicles. The Board’s motion to adopt the tax rates and budget passed unanimously; Supervisor S. C. Alsop was absent.
Why it matters: The Board said the higher rate was required because the reassessment reduced the county’s assessed base; setting rates above the equalized figure preserves revenue needed to fund county services and planned capital projects, including transfers to the school fund and a county capital projects fund.
What the budget covers: The fiscal plan lists departmental appropriations across public safety, courts, schools, public works, and human services; notable line items include $2,367,256 for the sheriff’s office, $2,270,597 for rescue services and a $4,297,176 transfer to the school fund. The Board also approved a $5,225,500 county capital projects fund and smaller funds for social services and CSA programs.
Board reaction: Supervisor J. M. Burns said the rates reflect the difficulty of funding services in a small jurisdiction. Chair R. F. Bailey reiterated that the Board weighed public input before voting. The County Administrator noted a likely 5% cost-of-living adjustment coming from the General Assembly that could affect personnel costs.
Next steps: Local funds for the school portion will be appropriated on or about July 1, 2023, with a portion possibly appropriated in April 2024 pending revenue receipt. Any unspent local school funds at year-end will be transferred to a reserve for school construction, the resolution states.