City’s real estate tax lowest in 30 years

On Monday, the City Council formally established a $1.5 billion budget for the 2013 fiscal year. While the school budget was one of the most contentious (and expensive) issues surrounding the new budget, one smaller provision in the budget is probably worth noting. The Council did not alter the city’s existing Real Estate Tax Rate. […]

On Monday, the City Council formally established a $1.5 billion budget for the 2013 fiscal year. While the school budget was one of the most contentious (and expensive) issues surrounding the new budget, one smaller provision in the budget is probably worth noting.

The Council did not alter the city’s existing Real Estate Tax Rate. It remains $1.20 per $100 assessed real estate value. It has remained at this rate since 2008, and is the lowest rate in more than 30 years (In 1980, the rate was $2.12 per $100).

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Nathan Cushing

Nathan Cushing is a writer, journalist, and RVANews Editor.

1 comment on City’s real estate tax lowest in 30 years

  1. If the council would look at the auditor’s reports they would find the monies necessary to fund the schools and projects in our city to take it to the next level.

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