County Has $1M Less Income than Expected

The county is facing a million-dollar shortfall at the end of the fiscal year, Samantha Koon writes for the Daily Progress. The $1.07M shortfall results from less income from real estate taxes than expected. Relative to Albemarle’s $304M budget, it’s not an enormous amount of money, but it’s still got to come out of somewhere. They’ve has faced larger shortfalls in recent years, especially back in 2008, as the economy was collapsing. The Board of Supervisors will figure out how to deal with the problem in work sessions next month.

6 thoughts on “County Has $1M Less Income than Expected”

  1. Maybe the County ought to ask for a deferred payment to the City’s Revenue Sharing fund. The City is awash in money and is funding every request it gets.

  2. The city would be much more flush with money if it had annexed the county properties it had every right to annex back in the day. The revenue sharing agreement has been a financial windfall for albemarle county.

  3. While they’re asking to defer revenue sharing, maybe they could also ask the State to defer the prohibition on annexation. With Stonefield construction underway, the annexing option really should be back on the table.

  4. I don’t know why people keep bringing up the R/S agreement. It’s over and done with. There is no way for it to be changed unless both parties want to exit. Or unless the City gives up it’s status as an independent political entity, and I don’t see that happening either- do you ?

  5. Indeed. An agreement is an agreement, which is why the city has been so diligent about living up to its agreements regarding the Meadowcreek Parkway and the water plan. Oh wait…..

  6. The city always honors it agreements-eventually- unless of course some small and vocal group wants to look at an endless stream of new data.

    Other than that or unless they have to delay because not all stockholders have fully bought into the idea and we need to have a couple more public meetings to make sure that all voices are heard and earnestly considered. …

    Oh and they might have till wait till the grant is awarded because if we get that grant to pay for all the additional planning that we could really use …that would be when a decision would be final…probably

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