HAMPTON, Va. — In a proposed $600 million budget for the city of Hampton's Fiscal Year 2025, employees and residents could both be getting a boost thanks to possible raises and a drop in real estate tax.
During a City Council work session last Wednesday, City Manager Mary Bunting laid out her priorities for the budget for Fiscal Year 2025, which starts on July 1, 2024.
Among her recommendations are a 3% general wage increase for employees, along with additional increases for long-time staff and adjustments to some wage ranges to meet market minimums.
In the FY24 budget, Hampton police, fire, and EMS sworn staff received adjusted scales and a step plan.
This recommendation aligns with public input, which concluded that 51% of residents prioritized staff compensation.
Further, Bunting requests that the real estate tax drop 1 cent per $100 of assessed value. If passed, the rate would have lowered 9 cents from FY22 to FY25.
"I am pleased to recommend a budget that ... (provides) a real estate tax rate reduction for the third year in a row. In particular, this budget fulfills our commitment to moving our community forward in a financially responsible way," said Bunting.
The FY25 budget of $643,271,950 is a 5.2% increase from last year. The total includes Hampton City Schools' budget which accounts for $289,035,244.
"The amount of city funds for schools is based on a formula, so the local contribution is proposed to be $95,000,573 from the City. That is $40 million above what the state requires," according to the release.
Other items proposed for funding include speed cameras in school zones, renovating East Mercury Boulevard, repairs to Settlers Landing bridge, and more. For more details on Bunting's proposed budget, visit the City of Hampton's website here.
