The Chesterfield County Board of Supervisors has just approved a tax hike of one cent for the 2014-2015 fiscal budget. It could have been more. The board had contemplated raising real estate taxes as much as 4.5 cents, and two of the five board members opposed even the penny hike. Board Vice Chairman Steve Elswick said he felt that was placing an undue burden on citizens, when he said we could fund the same thing within our budget with several reductions. The penny increase will bring in an extra three million, most of it for capital improvements to the county school system, and 112 new teachers in September to help reduce class sizes. Homeowners will now pay 96 cents for every 100 dollars assessed value. . For taxpayers with a 200 thousand dollar home, it will cost an extra 20 dollars a year. The new budget goes into effect July 1st. Charles Fishburne, WCVE news.