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Nelson County holds public hearing on $49.5 million FY25 budget as schools take largest share
Summary
At a June 4 continued meeting in Lovingston, county finance staff presented a balanced $49,530,187 FY25 budget that allocates the largest share to schools; presenters highlighted a 7% transient occupancy tax, capital funding for an estimated $25M NCHS renovation, and public commenters urged additional school support.
Nelson County officials presented the proposed FY2024-25 budget at a continued Board of Supervisors meeting on June 4, 2024, in Lovingston. Linda K. Staton, the County’s director of finance and human resources, said the advertised budget is balanced at $49,530,187 and is based on information available at the time of the public hearing; she cautioned that state budget decisions could alter the final General Fund and School Division totals.
The budget relies heavily on local revenue, which staff projected at $39,668,527 or about 80.1% of total revenues. Staton detailed tax rates that remain unchanged from 2022 — a $0.65 per $100 real estate and mobile home rate, $2.79 for tangible personal property and $1.25 for machinery and tools — and noted that the Board approved a Transient Occupancy Tax increase from 5% to 7% effective July 1, 2024, which is expected to yield roughly $468,000 more than FY24.
Education is the largest expenditure in the proposed General Fund, at roughly 39% or…
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