City of Alexandria, Virginia
________________
MEMORANDUM
DATE: APRIL 23, 2020
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 2020 (Fiscal Year 2021) [ROLL-CALL-VOTE]
BODY
_________________________________________________________________
ISSUE: Consideration of the Real and Personal Property Tax Rates for Calendar Year 2020 (Fiscal Year 2021).
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:
A base real estate tax rate on residential, commercial and industrial property for
calendar year 2020 of $ _ per one hundred dollars of assessed valuation. The FY 2021 proposed budget presented to City Council on February 18, 2020 reflected a real estate tax rate of $1.15 to fund the base budget, including two cents for Schools and City Capital projects. The revised proposed budget presented to City Council on April 7, 2020 in response to the COVID-19 public health and financial crisis restored the real estate tax rate to the current $1.13 rate;
1.) Assumed in this proposed amount is the continued dedication of 0.6 cents for affordable housing;
2.) Assumed in the proposed amount is the continued reservation of 2.2 cents of the real property tax rate for transportation projects;
3.) 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;
For all other taxes, the following rates are proposed:
4. A personal property tax rate on vehicles for calendar...
Click here for full text