Albemarle budget staff provide broad overview of where $480.5 million in spending will go in FY26

We resume the attempt at thorough coverage of the development of Albemarle County’s budget for fiscal year 2026 with a return to the March 10, 2025 work session. In the previous edition, we went through revenue in the general fund budget. This time around, Assistant Chief Financial Officer Andy Bowman goes through where the money will be spent.

Or went through. These actualities are nine days old.

The general fund consists of $480.5 million and 45 percent of that amount goes to Albemarle County Public Schools. Sixteen percent goes to public safety, nine percent goes to capital and debt service, and six percent goes to county administration. Four percent goes to the City of Charlottesville per an revenue-sharing agreement adopted in the 1980’s to prevent annexation.

“That total amount will exceed $20 million in fiscal year 26,” Bowman said. “That’s an increase of 2.4 million or 14 percent.”

Bowman did not go into details at this work session about why there was an increase but the calculation is based on data from 2023. This is the largest increase since Albemarle County switched to annual assessments.

If Supervisors agree to the four cent increase on the real estate tax rate as well as the increase in the personal property tax rate, the changes will apply to the entire calendar year which includes the second half of the current fiscal year.

“With the impact of personal property increasing the 4 cents on real estate and we also included in this the impact of the stronger than anticipated reassessment that would generate $11.1 million of one time money in fiscal year 25,” Bowman said.

Staff recommends $6 million of that one-time money to go to Albemarle County Public Schools, $3 million to the affordable housing fund, and $1 million to the economic development fund. The rest would go to the capital improvement plan.

Added to the list:

• One Supervisor sought additional clarity about how the City of Charlottesville assesses property as well as a historical analysis of how much revenue is generated by each penny on the real estate property tax rate

Before you go: This is another article intended to convey information about the development of Albemarle County’s budget for Fiscal Year 2026. This went out in the March 19, 2025 edition of Charlottesville Community Engagement. A reason I refrain from calling this work “news” is that the source material comes from a March 10, 2025 meeting. What would you call it? I’m generally curious!