The Stafford Municipal School District (SMSD) Board of Trustees and the Stafford City Council convened on January 24, 2025, to discuss significant financial strategies and potential tax reforms aimed at enhancing the local economy. A primary focus of the meeting was the ongoing efforts to lower property tax rates, which officials believe will stimulate economic growth by attracting businesses and increasing property values.

During the meeting, officials highlighted the recent passage of a $100,000 homestead exemption, which is part of a broader initiative to reduce tax burdens on residents. The council emphasized that lowering tax rates directly benefits the economy by putting more money back into the hands of taxpayers, thereby encouraging spending and investment in the community.

The discussion also included plans for a potential bond election, with estimates suggesting a need for approximately $80 million to fund various projects. The council presented multiple financial scenarios, including options for refinancing existing debt, which could save taxpayers significant interest costs. One scenario proposed paying off $2.3 million in debt early, resulting in an estimated savings of $171,000 in interest.

Council members expressed a cautious yet optimistic outlook regarding future property value growth, projecting a conservative 3% increase based on historical data. They noted that the district's five-year average growth rate is around 8%, indicating a strong likelihood of continued economic expansion.

The meeting concluded with a commitment to further refine financial projections and explore additional funding options as project details become clearer. The council aims to ensure that any tax rate adjustments remain judicious and in the best interest of Stafford residents, maintaining a focus on fiscal responsibility while supporting community development.