Real estate taxes will be raised from $0.90 per $100 to $0.95 while personal property taxes will be hiked from $2.40 to $2.75. Business personal property will jump from $2.00 to $2.75.
As with other localities around the Commonwealth, unfunded state mandates has put pressure on Staunton's government, according to reporter Calvin Trice with the News Leader:
Declining real estate values and mandates from the state government meant that the city needed to close a $1.4 million shortfall in its projected $45.4 million local budget for the next fiscal year.Neighboring Rockingham County voted last week to raise their personal property and real estate taxes, something Augusta County supervisors are currently considering to make up for shortfalls in the county and school board budgets. All have noted unfunded mandates passed along to localities from the state legislature as reasons for such a crunch this year.