City of Alexandria, Virginia
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MEMORANDUM
DATE: APRIL 14, 2018
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 2018 (Fiscal Year 2019). (Adoption is Scheduled for Thursday, May 3, 2018.)
BODY
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ISSUE: Consideration of the Real and Personal Property Tax Rates for Calendar Year 2018 (Fiscal Year 2019).
RECOMMENDATION: That City Council will:
(1) Hold a public hearing on Saturday, April 14 and schedule second reading and final passage on Thursday, May 3.
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 2018 of $ _ per one hundred dollars of assessed valuation. The FY 2019 proposed budget recommends a real estate tax rate of $1.13 to fund the base budget;
2. Assumed in this proposed amount is the continued dedication of 0.6 cents for affordable housing;
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. A personal property tax rate on vehicles for calendar year 2018 of $ __ per one hundred dollars of assessed value. The FY 2019 proposed budget recommends a vehicle personal property tax rate of $5.00 to fund the base; and
6. A tangible business personal property tax rate for calendar year 2018 of $ __ per one hundred dollars of assessed value and a machinery and tools tax rate of $____ per h...
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