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File #: 19-1874    Name: Tax rate ordinance
Type: Ordinance Status: Agenda Ready
File created: 3/12/2019 In control: City Council Legislative Meeting
On agenda: 4/13/2019 Final action:
Title: Public Hearing and Second Reading of an Ordinance on the Proposed Real and Personal Property Tax Rates and Proposed Effective Tax Rate Increase for Calendar Year 2019 (Fiscal Year 2020).
Sponsors: Morgan Routt
Attachments: 1. 19-1874_Attachment 1_2019 Cover Ordinance, 2. 19-1874_Attachment 2_2019 Ordinance
City of Alexandria, Virginia
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MEMORANDUM



DATE: MARCH 6, 2019

TO: THE HONORABLE MAYOR AND MEMBERS OF CITY COUNCIL

FROM: MARK B. JINKS, CITY MANAGER /s/

DOCKET TITLE:
TITLE
Public Hearing and Second Reading of an Ordinance on the Proposed Real and Personal Property Tax Rates and Proposed Effective Tax Rate Increase for Calendar Year 2019 (Fiscal Year 2020).
BODY
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ISSUE: Consideration of the Real and Personal Property Tax Rates for Calendar Year 2019 (Fiscal Year 2020).

RECOMMENDATION: That City Council:

(1) Pass this 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 second reading and public hearing on Saturday, April 13 and final passage on Wednesday, 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 2019 of $ _ per one hundred dollars of assessed valuation. The FY 2020 proposed budget reflects 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 2019 of $ __ per one hundred dollars of assessed value. The FY 2020 proposed budget recommends a vehicle personal property tax rate of $5.00 to fund the base; and

6. A tangible business personal prope...

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