Falls Church Property Tax Rate to Rise

From today's Metro section:

The Falls Church City Council has approved a $76.4 million budget that raises the property tax rate 2 cents for the fiscal year that starts July 1.
The new rate is $1.03 for each $100 of assessed value. However, city officials said in a statement, because of declines in property assessments, the median tax bill for the owner of a single-family home will decline $174. Other tax rates will stay the same.
New construction and growth in the value of commercial real estate will yield an increase of 3.5 percent in overall property tax revenue, officials said.

By Focus on Fairfax |  April 30, 2008; 9:31 AM ET  | Category:  Economy, Taxes
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