The County of Chesterfield proposes to increase property tax levies.
1. Assessment Increase: Total assessed value of real property, excluding additional assessments
due to new construction or improvements to property, exceeds last year’s total assessed value of
real property by 3.7%.
2. Lowered Rate Necessary to Offset Increased Assessment: The tax rate which would levy the same
amount of real estate tax as last year, when multiplied by the new total assessed value of real
estate with the exclusions mentioned above, would be $0.92 per $100 of assessed value. This
rate will be known as the “lowered tax rate”.
3. Effective Rate Increase: Chesterfield County proposes to adopt a tax rate of $0.95 per $100 of
assessed value. The difference between the lowered tax rate and the proposed rate would be
$0.03 per $100, or 3.3%. This difference will be known as the “effective tax rate increase”.
Individual property taxes may, however, increase at a percentage greater than or less than the
4. Proposed Total Budget Increase: Based on the proposed real property tax rate and changes
in other revenues, the total consolidated FY2020 budget will increase from last year’s adopted
consolidated budget by approximately 3.0%.
5. Total taxable and exempt property as of 1/1/2019 is $41,565,202,177; of this amount total taxable
property is $38,874,802,577, or 94%, and the total tax-exempt property is $2,690,399,600, or
6%, of total taxable and exempt property.
A public hearing on the increase will be held on Wednesday, March 27, 2019 at 6:05 p.m. in the
Chesterfield County Public Meeting Room at 10001 Iron Bridge Road. The hearing will be open to
the public and will be accessible to persons with disabilities. The Board of Supervisors will allow the
public an opportunity to speak. To sign up to speak, or request special accommodations, call the
Clerk to the Board of Supervisors at 804-748-1200. Speakers may also sign up in person at 5:45
p.m. before the public hearing. Persons needing interpreter services must notify the Clerk to the
Board no later than Friday, March 22, 2019.