City of Alexandria, Virginia
________________
MEMORANDUM
DATE: APRIL 27, 2018
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 2018 (Fiscal Year 2019). [ROLL-CALL-VOTE]
BODY
_________________________________________________________________
ISSUE: Final Passage of the Real and Personal Property Tax Rates for Calendar Year 2018 (Fiscal Year 2019).
RECOMMENDATION: That City Council pass the proposed ordinance 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 hundred dollars of assessed value. The FY 2019 proposed budget recommends a tangible personal property tax rate of $4.75 and a machinery and t...
Click here for full text