Albemarle Supervisors presented with $551.5 million budget for FY24
The process of adopting a budget is underway in Albemarle County with the release this week of County Executive Jeffrey Richardson’s nearly $551.5 million budget for fiscal year 2024. A public hearing will be held on March 1 before a series of work sessions where the six Supervisors will go through the budget line by line. (view the draft budget document)
“This budget is balanced on the same tax rates as the current year,” Richardson told the Albemarle Board of Supervisors at their meeting on February 22.
That includes the personal property tax rate which will remain at the lowered rate of $3.42 per $100 of assessed value. The real property tax rate will remain at $0.854 per $100 of assessed value. The average real property assessment was up 13.46 percent, generating an additional $27,262,905.
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