Accomack Supervisors release budget in brief overview of the proposed FY25 Budget

The Accomack County Board of Supervisors has released  a publication entitled “Budget in Brief.”    Budget is a five page summary of the proposed FY 24-25 budget.  The summary was requested by Freshman Supervisor Jeff Parks and prepared by staff under the supervision of Jessica Hargis.  Some highlights include:

• An 11.1 cent reduction in the real estate tax rate to offset a 24% increase in County real property values.
• A one cent reduction in Greenbackville and Captain’s Cove Mosquito Control special tax rate.
• No change in the personal property tax rate,
• $23.1 million in local funding for Accomack County Schools, a 5% increase over last year
• Funding for approximately 66 full time positions stationed in volunteer fire and rescue stations and charged with providing emergency medical and fire response,
• Approximately $2.2 million in subsidies for local volunteer fire and rescue companies.

The new real estate tax rate will be 48.4 cents per $100 of assessed value.  The Personal Property Tax rate will be unchanged at $3.72 per $100 assessed value.

The Personal property tax relief rate will be at 31%.

The Machinery and Tools Tax will be at $3.72 per $100 of assessed value.

The projected total FY 25 budget is $83,747,723, which is a 7.285% increase over FY 24.

At Wednesday night’s Board of Supervisors meeting, County Administrator Mike Mason stressed that reassessment letters will soon be going out to the property owners in the near future but the increased assessments will be negated by the 11.1 cent reduction in the tax rate.   Mason said that most tax payers will not see an increase over last year’s tax bills as a result.

A public hearing is scheduled for Monday March 25 to give citizens the opportunity to comment on the budget.

Click here for the Budget in Brief presentation.