City of Alexandria, Virginia
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MEMORANDUM
DATE: APRIL 4, 2014
TO: THE HONORABLE MAYOR AND MEMBERS OF CITY COUNCIL
FROM: RASHAD M. YOUNG, CITY MANAGER /s/
DOCKET TITLE:
TITLE
Public Hearing and Second Reading of an Ordinance to Establish the Real Estate and Personal Property Tax Rates for Calendar Year 2014 (Fiscal Year 2015). Adoption is Set for May 1, 2014.
BODY
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ISSUE: Consideration of the Real and Personal Property Tax Rates for Calendar Year 2014 (Fiscal Year 2015).
RECOMMENDATION: That City Council will:
(1) Pass the proposed ordinance on first reading after establishing the tax rates to be advertised for residential and commercial real property and personal property; and
(2) Set the ordinance for public hearing on Saturday, April 12, and second reading and final passage on Thursday, May 1.
The maximum rates authorized by City Council in the attached ordinance reflect:
1. A base real estate tax rate on residential, commercial and industrial property for
calendar year 2014 of $ per one hundred dollars of assessed valuation;
2. Assumed in this proposed amount is the continued dedication of 0.6 cents for affordable housing and the continued dedication of 0.5 cents for a stormwater infrastructure trust fund account;
3. Assumed in the proposed amount is the continued reservation of 2.2 cents of the real property tax rate for transportation projects;
4. A special services district tax is proposed to continue to be levied on all real property located in the Tier I Potomac Yard Metrorail Station Special Services District at the current rate of $0.20 per one hundred dollars of valuation.
5. Tax rates on vehicles and on other classes of personal property are not proposed to change for calendar year 2014, with the exception of mobile homes. The personal property tax rate for mobile homes is adjusted to match the real p...
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