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Posted on Wednesday, February 26, 2014 at 3:43 pm

An increased county budget reflects a recovering local economy, according to Hanovers top official.

Wednesday, Hanover County Administrator Rhu Harris introduced a proposed budget of $390.6 million to the board of supervisors (after presstime). According to a memorandum to the board, the budget reflects an increase of $18 million or 4.8 percent over last years budget, with increased investment in the county workforce, education, capital improvements and public safety without changing the current tax structure.

Harris

The fiscal year 2015 budget is the first budget in five years to reflect what we all hope to be the recovery for our local economy and community, Harris wrote to the board. Our economic indicators are consistently showing that Hanover residents are returning to work, are spending in our retail stores and feel more secure about their home values.

According to Harris letter to the board of supervisors, general fund revenues are increasing for the first time since 2008 by 3.3 percent, or $7.8 million, led by an increase in real estate tax revenue. Harris said the increase is the result of projected reassessment increases of 1.5 percent and new construction of 2 percent.

Last year, Hanover issued 595 building permits for new single family homes, the highest number seen since 2004.

Personal property and sales tax revenues also increased by $1.5 million and $2 million, respectively.

Harris also noted that in the past year, the county attracted more than $53 million in new commercial construction. The private sector workforce also expanded by 987 jobs, helping drop the countys unemployment rate to 4.4 percent in December, a number in line with historic trends.

Harris has proposed increasing fees in two areas building inspections and utilities, where user fees for water and sewage are proposed to rise 2.5 percent, or an estimated $14.64 a year for the typical household.

Read more from the original source:
County Administrator: Hanover budget reflects recovery

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