Charlotte County supervisors pass budget with no tax increases
Published 7:00 am Thursday, May 18, 2023
Charlotte County citizens will see no tax increases for the upcoming fiscal year and will receive a real estate tax abatement of 5% of the assessed value. Following multiple work sessions and a public hearing, Charlotte County supervisors approved the county’s FY 2023-2024 budget on May 8.
According to county documents, to guarantee no tax increases, money will come from excess, unbudgeted, solar siting agreement funds and increases in assessed land values where solar projects are located.
As part of the budget, a 7% cost of living increase was provided to all county employees, subsidized by both state and local funds.
The General Fund Capital improvement project funded for FY2023-2024 total $743,757.
Of that amount, $261,772 comes from American Rescue Plan Act funds for a trash truck; $215,838 is reimbursed by VITA; and the Sheriff’s Department has written a grant to cover the $126,000 for new vehicles, leaving $140,147 in local funds.
County documents show other budget highlights. For example, general fund totals increased by 10.3% over last year to $20,195,387. However, the school fund expenditures declined from $77,492,130 to $49,551,982 due primarily to decreases in Virtual Virginia, an online program for students.
Charlotte County supervisors’ local appropriation for the school system increased by $100,000 or about 2.2%. County officials noted that without a state budget currently in place the number could change and require a budget amendment.
So, with all of that said, he following tax rates apply for FY2023-2024. The Real Estate and Mobile Homes rate will be 62 cents per $100 of assessed value. Personal property tax rate will be $3.25 per $100 assessed, machinery and tools is $3 per $100 assessed and merchant’s capital will be $3.20 per $100 assessed.