The C&I tax, up to 12.5 cents/$100 of assessed value, would apply only to non-residential commercial properties and be used for expanding transportation infrastructure.
City Council establishes the City’s legislative priorities and positions for the upcoming General Assembly in Richmond.
In the City’s FY2027 guidance, the budget increase relies on a 6% projected increase in single-family home assessments and higher car taxes, while other properties and revenues remain flat. FCCPS staff are to receive a 5% salary hike.
The FY2025 year-end results showed a $2.3 million surplus. Sales tax and meals tax receipts were much lower than expected. Staff recommended using the surplus to shore up reserves and for small projects.
The City Council took steps to raise Planning Commissioners salaries, which, if approved, will go into effect this fall.
City Council raised salaries for Council members and the Mayor in keeping with new Virginia regulations that increase the annual salary caps for these positions.
City Chief Financial Officer Kiran Bawa is returning to Piedmont, California, as that jurisdiction’s finance director.
The adopted FY2026 budget reduces the real estate taxes from $1.21 to $1.20. Sales, meals and business taxes projections were lowered due to the economic outlook. Healthy residential real estate assessments growth supports increases in the school and general government budgets.
The FY2026-2031 CIP budget continues prior years’ capital projects plus a new sewage flow equalization basin that will require a bond issue in FY2026. The six-year $148 million budget covers over 40 projects. $26 million will be spent in FY2026.
