The Accomack County Board of Supervisors will conduct their final 2022-2023 budget public hearing tonight. The public hearing will begin at 6 p.m. at Metompkin Elementary School.
The proposed budget is 26.6% larger than the FY22 budget. The new budget includes an increase in the general operating budget of approximately $10 million. The Capital pay as you go budget increased 34.9% from $3.7 million to just over $5 million. The budget formerly included money for the new 911 system but a federal grant of $8.2 will cut the amount of local money needed to complete the project. The grant applies to both counties. The debt service category includes an increase of $231,700 over the FY22 budget.
There are no tax rate increases included in the budget but there is predicted to be an increase due to projected added revenue from real estate assessments this year. The county anticipates $38,826,818 in real estate tax revenue. Other sources of income total $29.6 million.
In addition, the State has authorized localities to reduce the tax rate on motor vehicles due to the unprecedented rise in value experienced since COVID.