Albemarle County’s proposed budget includes real estate and personal property tax increases

It’s budget season, the time of year when local governments in Virginia decide what to fund — and what not to fund — in the upcoming fiscal year. 

Albemarle County Executive Jeff Richardson, the County’s top administrator, presented a recommended budget and capital improvements program to the Board of Supervisors on Feb. 26, 2025. (View his presentation here.) 

Over the next few months, the Board will take Richardson’s recommendations and public comment into consideration before voting to adopt a final budget, likely in early May. 

The $642.4 million proposed budget includes expenditures for the entire county’s operation — public schools, public safety, staff salaries, parks and recreation, and more — from July 1, 2025, through June 30, 2026. (View the budget here. The numbers breakdown begins on page 50.)

It would be a roughly $200,000 increase over the $642.2 million 2025 fiscal year budget. 

Funding for it will come from a variety of revenue sources, including federal and state grants, real property and personal property taxes, food and beverage taxes, and transient occupancy taxes (paid by hotels and short-term stays). 

Richardson has proposed increasing both the real property (i.e., real estate) and personal property tax rates.

He’s proposed a four-cent increase to the real property tax rate, to $0.894 cents per $100 of value. The current rate of $0.854 cents per $100 of value was set in 2019. The proposed budget document explains that of that 4 cents, 3.2 cents would go to public safety; 0.4 cents would go to public schools; and 0.4 cents would go toward “creating a dedicated funding stream for affordable housing initiatives.” Additional information on investment in those areas is available on page 8-10 here.

These increased rates, combined with increased assessment values, will mean the County can collect more in real property tax this fiscal year than in the previous one.

The personal property tax rate — collected on things like cars, motorcycles, campers, and utility trailers — would go up by 32 cents in this proposal, from $3.96 to $4.28 per $100 of value. The rate would be an increase over the last few fiscal years, but “is restored to pre-pandemic level,” according to the proposed budget document. The County decreased the rate in 2022 “to adjust for the increased values of personal property, most notably used vehicles, due to the pandemic.” 

“These rates reflect a necessary increase from previous years’ commitments to sustain essential services,” Richardson wrote in an Albemarle County community email blast about the proposed budget sent March 10.

The Board is scheduled to hold a public hearing on the proposed budget April 23 and a public hearing on tax rates April 30. It is expected to vote on appropriating the budget and setting tax rates on Wednesday, May 7. See the Albemarle County budget adoption calendar for more on those key dates.

Take Action

Albemarle County has released its proposed budget for July 1, 2025, through June 30, 2026. County residents can learn more about the budget during upcoming town halls: 

• Tues., March 18, 5:30-7:30 p.m., The Center at Belvedere ballroom, 540 Belvedere Blvd., Charlottesville
• Thurs., March 20, 5:30-7:30 p.m., Monticello High School, 1400 Independence Way, Charlottesville. Childcare will be available, live stream option available
• Mon., March 24, 5:30-7:30 p.m., Sentara Outpatient Center Kessler Conference Room, 500 Martha Jefferson Dr., Charlottesville
• Thurs., March 27, 5:30-7:30 p.m., B.F. Yancey School Community Center gymnasium, 7625 Porters Rd., Esmont
• Wed., April 9, 5:30-7:30 p.m., Western Albemarle High School, 5941 Rockfish Gap Tpke., Crozet. Childcare will be available 
• Thurs., April 10, 5:30-7:30 p.m., North Fork Research Park, Building 4, Research Park Blvd., Charlottesville
• Mon., April 14, 5:30-7:30 p.m., Journey Middle School, 210 Lambs Ln., Charlottesville 

The Board is scheduled to hold a public hearing on the proposed budget April 23 and a public hearing on tax rates April 30. It is expected to vote on appropriating the budget and setting tax rates on Wednesday, May 7. See the Albemarle County budget adoption calendar for more on those key dates.

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