T
he Staunton City Council has taken a crucial step towards addressing the city's infrastructure needs by approving a $164.5 million budget that includes a modest real estate tax increase. Effective January 1, 2025, property owners will see their tax rate rise from 89 to 91 cents per $100 of assessed value, a move aimed at tackling costly repairs beneath downtown Staunton.
The decision was not taken lightly, with some council members advocating for a reduced tax hike. Councilor Jeff Overholtzer proposed a motion to lower the tax rate by one cent, citing concerns that the higher rate would hinder efforts to create affordable housing. However, his proposal fell short on a 5-2 vote.
Councilors acknowledged the burden this increase will place on residents but emphasized the need for responsible governance and addressing pressing infrastructure issues. Adam Campbell noted that Staunton is facing significant challenges in maintaining its affordability while meeting the demands of its growing needs. The council's decision to approve the budget, which includes $51.7 million for Staunton City Schools and additional positions for public safety and maintenance, reflects a commitment to investing in the city's future.
As one resident pointed out during the public comment period, this increase is a necessary step towards ensuring the well-being of all members of the community. The council's vote on the budget ordinance passed 6-1, with Councilor Alice Woods dissenting. With this decision, Staunton takes a crucial step forward in addressing its infrastructure needs and investing in the city's future.
realestate
Staunton Council Approves Budget with 91-Cent Real Estate Tax Rate
Staunton City Council passes proposed 91-cent real estate tax rate.
Read More - realestate

realestate
Real Estate Buyers Sue Over Mandatory Disclosure of Cash Transactions
Lawsuit filed to block reporting rule for cash real estate purchases after Treasury drops CTA enforcement.
Read More - realestate

realestate
Rapidly Expanding Brokerage Now Covers Entire US and Canada
LPT Realty Achieves National and International Dominance in Just Three Years.
Read More

realestate
Rapidly Expanding Brokerage Now Covers Entire US and Canada
LPT Realty Achieves National and International Dominance in Just Three Years.