Alexandria City Council to Consider Real Estate Tax Rate Increase of Up to Four Cents for 2013
Alexandria City Council authorized advertising a maximum possible real residential property tax increase to $1.038 per $100 assessed value, an increase of four cents.
WASHINGTON, D.C. – March 14, 2013 – (RealEstateRama) — On March 12, the Alexandria City Council voted 7-0 to authorize advertisement of the maximum possible real (residential and commercial) property tax rates it will consider for the 2013 calendar year. Based on Council’s actions, the base real estate tax rate could be raised by a maximum of four cents, up to $1.038 per $100 assessed value. City Council could set any rate below the maximum of $1.038. The tax rate on tangible personal property, such as vehicles, boats and trailers, is proposed to increase from $4.75 to $5.00 per $100 of assessed value. The personal property tax rate on business equipment and other types of vehicles is not proposed to change.
The four cent maximum possible property tax rate increase gives the City Council flexibility to make additional budget adjustments prior to budget adoption on May 6. City Council emphasized that no decision has been made yet on what the adopted rate will be. The public hearing on the ordinance establishing the real property tax rate will be held on Saturday, April 13 at 9:30 a.m., in City Council Chambers, City Hall, 301 King St. The Council will determine and vote on a final real property tax rate when they adopt the Operating Budget and Capital Improvement Program on May 6.
City Council’s authorization of a potential change to the real property tax rate, if adopted at the maximum rate, would result in the average residential tax bill increasing by up to $314 or 6.9% when compared to 2012 real estate tax bills. 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.
For more information, contact Tony Castrilli, Director of Communications and Public Information, at 703.746.3958, or tony.castrilli (at) alexandriava (dot) gov.
