Alexandria’s new City Manager James Parajon presented his proposed budget last night to the City Council. While real estate property assessments are still pushing local tax bills up, there’s no tax rate increase proposed in the budget.
The budget is $829.9 million, or a 7% increase from the previous year’s budget. The budget increase is largely funded by the increase in assessments revenue, which comes out to an average $445 increase for the average Alexandria homeowner.
There are still options, however, for increases as alternatives for the City Council. Those rates, Parajon said, would be a 1 penny per $100 of assessed value increase or a 2 penny increase. Budget Director Morgan Routt said the increases would come out to an average $66 increase per penny — or $511 and $577 for the 1 and 2 penny increases. Those one cent increases could fund other initiatives proposed by the City Council.
Parajon is scheduled to present the budget to the public on Thursday, Feb. 17 at 7 p.m. There will be nine work sessions throughout the spring to review the budget. A special public budget hearing is scheduled for Monday, March 7, and a tax rate add/delete hearing on April 23. Final budget adoption is scheduled for May 4.
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