Dumfries Finance Director Kimberly Goodwin presented a snapshot of the town’s financial picture on Wednesday, August 3.
Overall, things are looking rosy for the small town that’s about to be home to the most prominent gaming resort in Northern Virginia — The Rose. This $389 million complex will include slots, a hotel, sports bar, restaurant, and convention space to open next year.
A large crane now hovers over the town, easily seen from Interstate 95, as work on the high-rise project is underway. Officials broke ground in January 2022, a year after Rosie’s gaming parlor opened in the town, a predecessor to the upcoming resort.
Gaming revenue is up 169% over this time last year. At the town’s DMV Select office, where residents may obtain car titles, registrations, and license plates, revenue is 500% over the previous year.
Overall, the town brought in 11% more revenue than anticipated in what Goodwin called an “extraordinary year.”
Goodwin’s presentation focused on the 4th quarter of the fiscal year 2022, which ended June 30. As is typical with her quarterly reports, Goodwin read a PowerPoint presentation word-for-word to the town council, which did not include actual monetary figures.
The Town Council Council asked no questions of Goodwin and praised her for the news. “I think the smiles on our faces say it all. I have no other questions,” said Councilman Brian Fields.
Goodwin said she plans to provide the council with an annual financial report detailing the fiscal year 2022 later this month. The Town Council is scheduled to meet next at 7 p.m. Tuesday, September 6, in the town hall, 17739 Main Street.
The council approved a tax abatement for town residents in its $7 million budget. A resident who owns a home valued at $224,700 would save about $213.35 in taxes, InsideNova.com reported.
Dumfries’ budget has increased 75% over the past 10 years. Meanwhile, the town’s population of nearly 5,000 residents has remained flat, according to the Weldon Cooper Center at the University of Virginia.
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