Budget and Management
April 8, 2021
CHESTERFIELD COUNTY, VA – The Chesterfield Board of Supervisors voted Wednesday to adopt the county’s $807 million fiscal year 2022 general fund budget – paving the way for record investments in the county’s workforce, Chesterfield County Public Schools and other core services.
“This time last year, we were negotiating the sudden and unexpected economic uncertainties brought about by COVID-19 and were making significant cuts to the budget,” said Board of Supervisors Chair James “Jim” Holland. “That’s not the case today. This budget rewards our employees for maintaining the ship during this pandemic, provides record funding to our schools, increases allocations to several core services that residents expect, and provides much needed tax relief for residents and businesses. We are pressing forward in Chesterfield County, and this budget is a reflection of the fiscal stewardship that brought us through the pandemic and our optimism for the future.”
The approved budget is built around six key themes: Recognizing the workforce; investing in education; diversifying and bolstering the county’s tax base; enhancing quality of life; strengthening investment in infrastructure; and continuing the county’s commitment to public safety. It also continues to invest in core county services, such as:
Chesterfield will maintain its real estate tax rate of 95 cents per $100 of assessed value on residences and businesses.
Aside from record investment, the adopted FY2022 budget also provides a roadmap for a future November 2022 bond referendum, which includes approximately $300 million to be primarily focused on addressing capacity challenges and aging facilities at county middle schools. Another $150 million would include upgrades for several county facilities, including:
The approved FY2022 budget is mindful of the financial constraints of Chesterfield residents and businesses by including several targeted tax relief measures that include increasing the collection threshold of the county’s Business and Occupation License (BPOL) Tax from $300,000 to $400,000 effective July 1, 2021 – making more than 6,400 Chesterfield-based small- to medium-sized businesses fully exempt from the BPOL tax. It also raises the Elderly and Disabled Tax Relief program 100 percent relief threshold from $28,000 to $31,500 to assist more qualified residents with real estate tax relief and retain more personal discretionary income.
People can view the adopted FY2022 budget anytime on the county’s budget website.