City of Alexandria, Virginia
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MEMORANDUM
DATE: APRIL 26, 2019
TO: THE HONORABLE MAYOR AND MEMBERS OF CITY COUNCIL
FROM: MARK B. JINKS, CITY MANAGER /s/
DOCKET TITLE:
TITLE
Final Passage 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).[ROLL-CALL VOTE]
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 pass the proposed ordinance after establishing the tax rates to be advertised for residential and commercial real property and personal property; and
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 property tax rate for calendar year 2019 of $ __ per one hundred dollars of assessed value and a machinery and tools tax rate of $____ per hundred ...
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