Albemarle County residents may soon face higher taxes as part of the proposed Fiscal Year 2026 budget, which aims to allocate more funds toward education and public safety.
County Executive Jeff Richardson presented a $642 million budget to the Board of Supervisors on February 26, proposing a four-cent increase to the real property tax rate—the first hike since 2019. If approved, the new tax rate would be $0.894 per $100 of assessed property value.
“All four cents are dedicated and earmarked,” Richardson said, outlining the specific areas the additional funds would support.
A majority of the increase—3.2 cents per $100—would be allocated to public safety, addressing critical needs in fire and police services. This includes covering obligations resulting from the hiring of 57 firefighters through FEMA SAFER grants, which are set to expire. The county is also looking to add six new police officers and offer a 3% salary increase to help retain personnel.
In addition to public safety, the proposal includes increased funding for the county’s school division, always a significant budget item. The FY26 budget recommends $14.3 million in additional funds for the schools’ operating budget, as well as investments in three new schools, school renovations, and a bus replacement program.
To support affordable housing initiatives, the budget includes a $1.2 million contribution to create a dedicated funding stream, bringing the total investment in the Affordable Housing Fund to $4.2 million.
The proposal also suggests raising the personal property tax rate to $4.28 per $100 of valuation, up from $3.96 in FY25.
While the budget is still under consideration, several work sessions are scheduled over the coming months, providing opportunities for public input. Residents wishing to provide feedback on the proposed tax rates should do so by March 19, when the Board of Supervisors is expected to set the maximum tax rate.
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