Chesterfield unveils $2.3 billion proposed budget for 2027
VENN
CHESTERFIELD COUNTY, Va. (WRIC) — Chesterfield County leaders have unveiled a $2.3 billion proposed budget for fiscal year 2027, a 3.6% decrease of $86.8 million from the previous year.
The board of supervisors on Wednesday, March 11, discussed the county's financial plans taking effect on July 1, including a budgeted $1 billion expenditure for Chesterfield County Public Schools (CCPS).
Under the proposal, the school system and general funds account for 70% of the countywide budget, with 45.2% of proposed expenditures going toward its school division. Chesterfield's general fund budget for FY27 totals $1.1 billion -- a 4.7% increase from the previous period.
About 31% of the county's projected revenues are from state aid. Per the proposed budget, Chesterfield will likely see a $1.2 million revenue reduction as changes in the federal Supplemental Nutrition Assistance Program (SNAP) administration would shift "a greater share of program costs" onto the county.
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Real estate taxes and personal property taxes together generate about $756.7 million or roughly 32.7% of Chesterfield's total revenues. The county will keep its current real estate tax rate at 89 cents and reduce personal property taxes to $3.25 per $100 of assessed value, a change expected to lower the annual tax bill on a new $50,000 car by about $42.
Budget and management director Gerard Durkin said that since 1997, Chesterfield's local revenue per capita has remained the lowest among its peer group. The county's net debt per capita in 2025 was also the lowest among peer localities at $5,357 compared to No. 1 Richmond's $11,892 in 2024, as the city has not yet released its 2025 numbers.
"When you move to the operating side, it's the exact same story. We are below the peer group; we've had the lowest operating per capita cost since 1998, and that does include spending on education as well," Durkin said.
The budget will also raise the Business, Professional and Occupational License (BPOL) exemption threshold from $550,000 to 750,000, a change county administrator Joe Casey said reflects the "greatest increment ever" raised. This means businesses with annual gross receipts less than $750,000 won't have to pay the BPOL tax.
"For our small entrepreneurial businesses -- which are our secret sauce -- we continue to do everything possible so that they can grow roots here, so that we cannot call them 'small' anymore," Casey said.
This budget season will be Casey's last after a 10-year tenure as the county's top leader.
CCPS gets $15 million boost under proposed budget
Superintendent John Murray proposed a $1.03 billion operating budget for the school system in January. The division's budget reflects a $47.9 million increase from fiscal year 2026, including $33.6 million from the state, $13.2 million from the county and $1.1 million at the local level.
Under the county's proposed budget, CCPS will get a $15 million boost, allowing for a 5% pay increase for county employees totaling $25.4 million, among other priorities. Teacher starting salaries would rise to $57,277 from $55,047, while minimum pay for hourly employees would rise to $15.28 from $14.70.
Chesterfield's chief finance officer, Robert Meister, said the long-term goal is to increase the starting wages to $60,000 annually and $16 per hour by next year.
The division will also allocate $500,000 toward school bus financing, including the purchase of 45 buses and the establishment of a 15-year bus replacement cycle. Meister said CCPS currently has $3.4 million for bus replacement, which funds about 22 buses annually.
Without additional funds, replacing a bus would take the county 29 years, Meister noted.
"We do have an aging fleet," he said. "We appreciate [the county's] contribution here to help get some of those buses that are most in need of being off the road off the road to ensure that we don't have 30-year-old buses on the road."
The school district's budget, including state funding estimates, is dependent on the finalization of the state process. The division's estimated revenues are based on Gov. Glenn Youngkin's proposed plan from December, Murray said at a March 11 meeting.
The county will hold a community hearing on March 25 to gather feedback on the proposed budget. Final budget adoption is slated for April 8.
