The adopted FY 2023 total County Budget of $124.4 million advances county priorities, maintains the real estate tax rate at $0.53 per $100 assessed value for Calendar Year 2022, decreases the Personal Property Tax Rate by $0.20 to $3.75 per $100 assessed value, and includes tax relief and tax reduction initiatives.
The FY 2023 total County Budget is a $16.9 million or 12.0% decrease from the Fiscal Year 2022 budget. The FY 2023 $74.4 million County General Fund budget represents an $8.9 million or 13.5% increase from the FY2022 budget.
The FY 2023 Budget accomplishes several tax relief and tax reductions to help take care of those most in need in our community. It increases the relief amount in the real estate property tax relief program for the elderly and disabled from $900 to $1,000 and decreases the personal property tax rate for all citizens to $3.75 per $100 assessed value. In addition, it provides a discount for eligible fire rescue volunteers, giving them their first auto free of personal property tax.
Priorities for the FY2023 Budget include enhancing the high-quality core services provided by Education and Public Safety. Total County planned investments in Education for Fiscal Year 2023 increased $1,000,000, or 4.1% over the prior year (not including Capital Improvements). The budget for Public Safety, a key focus area for the budget, grew by $3.2 million or 19.8% over the current fiscal year.
The FY 2023 Budget includes additional investments in employees. The budget builds upon recent 12% pay increases for uniformed Public Safety employees by providing a 3% pay increase for all employees, plus 2% for all non-public safety employees. In addition, the adopted budget sets aside funding for market level adjustments resulting from a salary benchmark study that Goochland County is currently conducting.
The FY 2023 Budget also marks the fifth year of utilizing a twenty-five-year Capital Improvement Program (CIP) to meet the capital needs of the County and Schools. The FY 2023 – FY 2047 CIP contains $505.5 million for forecasted projects including needed investments in education and public safety including new elementary schools, a new courthouse, and new fire stations. The first year of the CIP for FY 2023 is $16.5 million and includes investments in new HVAC for the High School, a new ladder truck, and a new West Creek fire station.