Deputy County Administrator Matt Harris says Chesterfield is always cautious when it comes to how they forecast future revenues.
“Whether it’s this issue or something that comes up six months from now that we’re, you know, we’re pretty well covered in the way that we build our revenues,” said Harris.
The county projects about $475 million in property taxes for next year. That’s an increase of over $50 million since 2017.
Harris says other sources of county income come from sales and occupancy taxes.
“In the grand scheme of things, relatively little of our revenue comes from those kinds of consumer pieces. But we’ll certainly keep our eye on that as we go forward.”
Harris says prior to the news of the coronavirus, the county had already reduced projections of revenue from both sales and occupancy taxes. He adds that should revenue streams change in those six months, the county will have time to adjust their forecasts.
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