City of Alexandria, Virginia
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MEMORANDUM
DATE: APRIL 14, 2016
TO: THE HONORABLE MAYOR AND MEMBERS OF CITY COUNCIL
FROM: MARK B. JINKS, CITY MANAGER /s/
DOCKET TITLE:
TITLE
Public Hearing on an Ordinance on the Proposed Real and Personal Property Tax Rates and Proposed Effective Tax Rate Increase for Calendar Year 2016 (Fiscal Year 2017). (Adoption is Scheduled for Thursday, May 5, 2016.)
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ISSUE: Consideration of the Real and Personal Property Tax Rates for Calendar Year 2016 (Fiscal Year 2017).
RECOMMENDATION: That City Council will:
(1) Hold a public hearing on Saturday, April 16 and schedule second reading and final passage on Thursday, May 5.
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 2016 of $ per one hundred dollars of assessed valuation. The FY 2017 proposed budget recommends $1.053 to fund the base budget and presents a $1.063 rate to fund an options list;
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 2016.
DISCUSSION: Under the requirements of The Code of Virginia ("The Code"), the City Council annually must establish real property and personal pro...
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