City of Alexandria, Virginia
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MEMORANDUM
DATE: APRIL 26, 2017
TO: THE HONORABLE MAYOR AND MEMBERS OF CITY COUNCIL
FROM: MARK B. JINKS, CITY MANAGER /s/
DOCKET TITLE:
TITLE
Final Passage of an Ordinance to Establish the Real Estate and Personal Property Tax Rates for Calendar Year 2017 (Fiscal Year 2018). [ROLL-CALL VOTE]
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ISSUE: Passage of the Real and Personal Property Tax Rates for Calendar Year 2017 (Fiscal Year 2018).
RECOMMENDATION: That City Council pass the proposed ordinance on Thursday, May 4.
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 2017 of $_____ per one hundred dollars of assessed valuation. The FY 2018 proposed budget recommends a real estate tax rate of $1.10 to fund the base budget and presents a supplemental CIP with tax funding options for City Council consideration;
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 the storm water infrastructure trust fund account for the first half of Fiscal Year 2018, but not the second half of Fiscal Year 2018 when the new Stormwater Utility fee will be in effect;
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; and
5. Tax rates on vehicles and on other classes of personal property are not proposed to change for calendar year 2017;
DISCUSSION: Under the requirements of The Code of Virginia ("The Code"), the City Council annually must establish...
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