Possible 4.5 cent property tax hike expected in Chesterfield - NBC12 - Richmond, VA News

Possible 4.5 cent property tax hike expected in Chesterfield

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CHESTERFIELD, VA (WWBT) -

Chesterfield County budget director Allan Carmody said the 4.5-cent tax hike is being proposed to help improve county schools.

"The benefits to those projects are just immense to the community people living in some of the more older areas of the county that have children in some of the oldest schools in our county will see will see much improved facilities for their children," said Carmody.

Carmody says that the proposed tax hike is broken into two parts. 3 cents would go towards paying for school projects and 1.5 cents would go to a required Chesapeake bay stormwater reduction project.

The current property tax rate is 95 cents per $100 of assessed value. Some homeowners say, despite school and watershed improvements, they don't want any part in the tax increase.

Back in November, voters approved over $300 million in bonds that paid for school projects but did not agree on the meal tax that would have brought in more than $5 million to fund those school projects.

Carmody says one way to make up the shortfall is to possibly raise your property taxes 4.5 cents.

"The improvements will help stabilize communities as a whole we have areas in our county that are still seeing reductions," Carmody said," Carmody said.

Before the tax rate increase can happen, advertisement and public forums need to take place. The property tax rate increase is not expected to be decided on until sometime in April.

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