Today, the Alexandria City Council authorized advertisement of the maximum possible real (residential and commercial) property tax rates it will consider for the 2010 calendar year. Based on Council’s actions, the base real estate tax rate could be raised by a maximum of nine cents, from 90.3 cents to up to 99.3 cents per $100 assessed value. City Council also authorized advertisement of the maximum possible add-on real estate tax rate of three cents on non-residential commercial and industrial property, for a total of $1.023 per $100 assessed value. The personal property tax rate on vehicles and business tangible property tax rates would remain unchanged.
On February 10, Alexandria City Manager James K. Hartmann proposed a General Fund Operating Budget of $534.1 million for FY 2011 that reflected a decrease of 3.5% from the previously approved FY 2010 budget.
City Council’s authorization of a potential change to the real property tax rate, if adopted at that rate, would result in the average residential tax bill increasing by up to $193 or 4.5% when compared to 2009 real estate tax rates. The City’s real estate tax rates would still be among the lowest in the Northern Virginia region, even if the maximum tax rate increase is approved.
The public is encouraged to provide input about the proposed budget online (alexandriava.gov/budgetcomments). The public hearing on the ordinance establishing the real property tax rate will be held on Saturday, April 17 at 9:30 a.m., in City Council Chambers, City Hall, 301 King St. The Operating Budget and Capital Improvement Program are scheduled for adoption on May 3, 2010.
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