Alexandria real estate revenue higher than expected
Alexandria appears to be slowly coming back from the recession. Early reports show that the city's real property tax revenues have increased by 1.68 percent this year, creating nearly $9.5 million more in the fiscal 2011 budget than originally anticipated.
City officials say this bodes well for fiscal 2012. In early estimates presented to the City Council on Monday night, staff members said they could be looking at an increase of 3.6 percent in real estate revenue, equating to more than $17.5 million over the fiscal 2011 budget revenue estimates.
Bruce Johnson, Alexandria's chief financial officer, said very rough estimates show about a $7.7 million budget gap in fiscal 2012. He said that number should be smaller after the staff has drilled down the figures for the Nov. 23 budget guidance discussion with members of council.
| October 19, 2010; 1:50 PM ET
Categories: Alexandria, Christy Goodman
Save & Share: Previous: Senate Republicans agree to withhold public comment on ABC privatization plan
Next: Radtke said she will consider running for office
Posted by: whoseyrmama | October 20, 2010 1:51 PM | Report abuse