News Summary
Williamsburg is set to hold a public hearing on the proposed FY 2026 budget and Capital Improvement Plan on April 10. The City Manager has proposed a budget totaling $121.5 million, focusing heavily on education with a notable increase in funding for local schools. This budget reflects a significant financial investment in the community’s future including funding for city services, infrastructure improvements, and tax changes affecting property values and water rates. Residents are encouraged to participate in the discussion to voice their opinions.
Williamsburg Prepares for Budget Discussions!
Hey there, Williamsburg folks! Exciting things are happening as the city gears up for an important event on April 10. Mark your calendars, because the City Council will be holding a public hearing on the proposed Fiscal Year 2026 budget and Capital Improvement Plan. This is your chance to be part of the conversation about how our beloved city manages its finances!
Budget Overview: What’s on the Table?
Here’s the scoop: the City Manager has proposed a total budget of $121,515,595 spread across six different funds. But after accounting for inter-fund transfers to avoid duplication, the actual budget amount is closer to $112,380,393. This is quite the increase, totaling $17.3 million more than what was adopted for FY 2025. That’s a significant jump and shows just how much our city is investing in its future!
Education Takes Center Stage!
One of the largest allocations in this budget is directed towards our schools! The proposal includes $12.7 million in annual operating funds for Williamsburg-James City County Schools. That’s an increase of $1.4 million (or 12.4%) in funding compared to last year. Plus, there’s an additional $1.4 million dedicated to capital funds for school improvements. That means our children will have even better resources for their education. In fact, the school system makes up 14.5% of this year’s total budget!
Taxes and Property Values: What to Expect
Now, let’s talk about property values and taxes. The average increase in assessed real estate value, not counting new constructions, is about 3.3%. Breaking it down even further, residential properties are seeing a rise of 4.6%, multifamily properties at 4.3%, and commercial properties have a modest jump of 0.8%. Even with these increases, the proposed budget aims to keep the current real estate tax rate steady at 62 cents per $100 of assessed value.
Real estate tax revenue is expected to rise by $970,000 compared to FY 2025. That means more funding for city services!
Water and Food Costs to Rise
Here’s where things get a little interesting—water rates are set to experience an increase! The proposal includes a hike of $1.59 per 1,000 gallons to fund a whopping $27.6 million investment in our water system infrastructure. For City residents, the new rate will change from $5.30 to $6.89—and don’t worry, non-city rates will rise too, from $6.36 to $8.27. Let’s not forget about Camp Peary, which follows the same rate as the City.
In addition, the city plans to increase the prepared food and beverage tax rate from 5% to 7%. The transient lodging tax will also see a hike from 5% to 8%, and a new admissions tax of 10% will be introduced. These tax changes aim to ensure that both residents and the millions of visitors we see each year contribute fairly to the city’s services.
Join the Discussion!
Curious to learn more? The City Council is holding a Work Session on April 7 at 4 p.m. over at the Stryker Center to discuss the budget further. It’s an open invitation for everyone! And don’t forget, you can also share your thoughts during the regular meeting on April 10 at 2 p.m.
For anything and everything related to this budget discussion, feel free to check out the official City of Williamsburg website. Your voice matters, and getting involved in local government is an excellent way to shape the future of our community!
Let’s unite to make Williamsburg even better, one budget at a time!
Deeper Dive: News & Info About This Topic
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Additional Resources
- WYDaily: Williamsburg to Host Public Hearing About Fiscal 2026 Budget
- Daily Press: Williamsburg’s Proposed $112.3 Million Budget
- WYDaily: City of Williamsburg’s Proposed Fiscal Year 2026 Budget Released
- Encyclopedia Britannica: Budgeting
- Google News: Williamsburg Budget 2026
