That’s based on $104.2 million in anticipated revenues, and $101.6 million in expected costs. Last year’s budget was $109 million.
County Administrator Christian Goodwin delivered the upbeat report to the Louisa County Board of Supervisors on Jan. 17. He cautioned that the General Assembly still has to decide how much funding it will send the county this year.
The state’s revenue for localities won’t be determined until March. Goodwin said he is also still waiting for updated real estate assessments for the new year.
The costs the county expects for fiscal year 2018 are in line with what was projected last year, Goodwin said.
“What we thought was going to happen when we adopted the budget last year is largely what’s going to happen,” he said.
The supervisors raised the personal property tax rate in 2016 from $1.90 to $2.43 per $100 of value. They increased the real estate tax rate the previous year from 68 to 72 cents.
Some of the $2.6 million anticipated surplus could be used to fund capital budget items. The Louisa County Planning Commission will vote on a $4.8 million draft capital budget at its Feb. 9 meeting.
To read the entire story, see the Jan. 26 edition of The Central Virginian.