Chesterfield property values expected to decline next year

This article originally appeared in the Chesterfield Observer, an RBS news partner. Tax revenues in Chesterfield County are likely to continue declining next year because existing residential assessments are projected to drop 2 percent while commercial assessments fall another 8 percent. That was the sobering news presented last week by Allan Carmody, the county’s budget and management director. Though Carmody said there are signs the “overall economy may have bottomed out,” the end of the recession locally doesn’t mean a return to growth. He predicted a “prolonged recovery,” creating “some significant program and service reductions” for the county government and the school system, which includes less funding from the state. The major sources of revenue for the general fund (how the county pays for most of its services) are projected to decline for next year. Real estate taxes represent 46 percent of ...

Chesterfield county to cut workforce 10 percent

This story originally appeared in the Chesterfield Observer Chesterfield County government will have about 10 percent fewer job positions this coming July, compared with the same time a year before. That represents 200 fewer full-time employees and vacant positions and 120 part-time employees and vacant positions. The recession has sapped tax revenue from county budgets. County Administrator Jay Stegmaier declined to say how many employees would lose their jobs and how many vacant positions would be eliminated. In the past 12 months, about 200 employees left the county – mostly when they changed jobs or retired. This fiscal year, the county has laid off about five employees and achieved its budget reductions by eliminating vacant positions and cutting operating expenses. Some employees were transferred to ...

Less rent means lower appraisals

This story first appeared in the Chesterfield Observer, which is an RBS News Partner. Property values in Chesterfield are taking a tumble. The value of existing commercial real estate in Chesterfield County dropped an average of 6.4 percent, or $418 million last year, according to the county assessor’s office.

Property values decline 6 percent in Chesterfield

This story first ran in the Chesterfield Observer, which is an RBS news partner. The typical home and commercial property in Chesterfield County declined 6 percent in value last year. Data from 2009 showed that 93 percent of all property declined in value, 4 percent did not change and 3 percent increased in value. The increases occurred because of additions and remodeling. According to Jonathan Davis, director of the Chesterfield County Real Estate Assessor’s Office, the property tax rate would have to be raised to $1.01 per $100 of assessed value from its current 95-cent rate if the County wanted to bring in the same amount of revenue as last year.

Costco planned for Chesterfield

A Costco will anchor a new shopping center planned near Chesterfield Towne Center. According to a site plan submitted to the Chesterfield Planning Department, Costco will occupy part of a new 342,000- square-foot shopping center at the intersection of Mall Drive and Koger Center Boulevard behind Chesterfield Towne Center. The 154,276-square-foot Costco store will be one of three commercial buildings on the 80-acre site.

Chesterfield to discuss budget woes

Chesterfield Count is taking its dire budget forecast for fiscal 2011, which starts July 1, to residents in a series of eight district meetings.

The county has been notified that it will receive $3.9 million less than expected from the state for the current fiscal year. By department, those funding reductions include the registrar ($9,000), sheriff ($326,000), commissioner of revenue ($144,000), commonwealth’s attorney ($162,000), circuit court clerk ($146,000), treasurer ($144,000), aid for police ($591,448), community services board ($175,000), the Virginia Juvenile Community Crime Control Act ($45,530), libraries ($10,750) and $2.1 million less in state sales tax revenue.

Talk of Powhite extension resumes

The idea of extending the Powhite Parkway as a toll road from Route 288 west to Hull Street Road has surfaced again as a way to open up an undeveloped commercial and residential area.

Chesterfield Board of Supervisors Chairman Art Warren, Vice Chairman Dan Gecker and County Administrator Jay Stegmaier have had separate meetings recently with a representative from the upper portion of Magnolia Green to discuss the possible extension.

Midlo Turnpike facelift

Looking good doesn’t come free.

Chesterfield County might soon raise property taxes on about 370 commercial properties along Midlothian Turnpike to pay for a $340,000 facelift of the 1.5-mile stretch between 400 feet east of Johnston Willis Drive westward to 500 feet west of Alverser Drive.

The Chesterfield Board of Supervisors will decide Oct. 28 whether to increase the property tax rate by 2 cents per $100 of assessed value. The increase would create an estimated $140,000 annually to landscape and maintain the roadway improvements.

Groundbreaking planned for mega sports complex

A $175 million sports facility in Chesterfield County will break ground Dec. 15.

Operated by SportsQuest, the 250-acre site is at the end of the Powhite Parkway at Charter Colony Parkway.

The complex is the brainchild of Steve Burton, a physician who made a fortune selling $60 million worth of sleep disorder programs.

Bowling complex coming to Chesterfield

A split-level entertainment complex with a bowling alley, two restaurants and arcades won approval from the Chesterfield Planning Commission last week to place a 29-foot-tall bowling pin on the roof. The pin is proposed to be made of "interlaced steel and aluminum," Uphoff Ventures LLC representative Andy Scherzer told the commission. "It won't be a garish light bulb."

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