WILLIAMSBURG-After much contention, Williamsburg City Council adopted a $62.5 million budget for the new fiscal year. The new budget includes a 4-cent increase on the real estate property tax rate.
Williamsburg City Manager Andrew O. Trivette originally proposed an 8-cent tax increase, which drew ire from many city residents and businesses who were negatively impacted by the covid-19 pandemic shutdowns, particularly those from the restaurant industry. Opposition to the increase in the tax rate caused a delay in the vote on the budget multiple times.
The property tax hike will now put Williamsburg’s tax rate at .64 cents per $100 of assessed value.
“City Council approved the best alternative that they could support,” Trivette said. “This budget is a step toward long-term financial stability of the City of Williamsburg.”
Added Williamsburg Mayor Douglas Pons: “The decision to raise property taxes is never easy, but it is the right decision as we work to stabilize the structural imbalance in the Capital Improvement Plan.”
Williamsburg’s fiscal budget for 2022 goes into effect later this summer.