Albemarle Supervisors adopt FY25 budget

Albemarle County has completed a two month process to finalize a plan for revenue and expenditure in the year that begins on July 1, 2024. Supervisors adopted the $642.2 million operating and capital budget at their meeting on May 1. 

Supervisors and staff worked through the budget in over 15 hours of budget work sessions held in March and April. There were also several town hall events.

When the budget was first introduced in late February, the total amount was $629 million but grew to $642.2 million in part because of a decision by supervisors to increase two tax rates. 

The real property tax rate remains the same at $0.854 per $100 of assessed value, but the lodging tax and the personal property tax rate were both increased at the direction of 

“The FY25 budget is based on a 54 cent per $100 valuation increase in the rate to $3.96 per $100,” said Ryan Davidson, Albemarle’s deputy chief of budget. “This increase would generate approximately $4.5 million in shared revenue that would then go through our revenue split formula with the schools, capital debt, and local government.” 

The rate restores the previous rate in place in FY22. Supervisors followed staff recommendations to drop the rate when the price of used vehicles dramatically increased nationwide. 

The transient lodging has been increased from eight percent to nine percent. That matches the same hike levied by Charlottesville City Council. 

The increase in the budget since late February was due to other factors such as moving up funding to support the Earlysville and Seminole Trail volunteer fire stations from fiscal year 27 to fiscal year 25. 

Supervisor Diantha McKeel said the county still has many services and expansions that won’t be increased due to this budget. One item requested by Supervisors during the budget process was a list of department requests that went unfunded. (read that report)

“I think six pages, eight pages of unfunded actions that were not really a wish list but really there are some very important needs on those pages,” McKeel said. 

These include additional public safety and emergency personnel. During the budget process, Supervisors did direct staff to fund additional people to work in the new Human Services Alternatives Response Team (HART). 

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