UPDATE 4/13: Fairfax City Budget
From today's Metro section:
Real Estate Tax Rate Increase Is Approved
The Fairfax City Council has approved a $124 million budget for the next fiscal year that calls for a 1-cent increase in the real estate tax rate.
The new tax rate will be 72 cents for each $100 of assessed value, which city officials say is the lowest rate of Northern Virginia jurisdictions.
Commercial real estate values increased an average of 13.7 percent in the city while residential real estate dropped 3.1 percent, according to a news release. As a result, the average real estate tax bill increase is about 3.6 percent.
For the year beginning July 1, the council increased spending on public safety by $3.4 million and on education by $3.6 million.
The council also increased the meals tax rate from 2 percent to 4 percent, which is expected to generate an additional $2.4 million a year in revenue.
Fairfax City Council approves budget, a penny increase in real estate tax, increases in meal taxes, water and sewer rates.
By Robert Samsot |
April 13, 2007; 6:43 PM ET
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