Charlottesville City Council approves FY 2019 budget
Submitted Press Release | | Wednesday, April 11, 2018 at 10:55 a.m.
Real Estate tax rate to remain at .95 cents per 100 dollars of assessed value
At a special meeting held April 10, 2018, Charlottesville City Council unanimously approved the FY 2019 budget, tax rate and vehicle tax relief programs.
City Council voted to:
- Establish the 2018 tax year Vehicle Tax Relief Percentage (1st of 1 reading)
- Set the Annual Tax Levy for 2018 (2nd of 2 readings)
- Approve the Annual Budget Appropriation for FY 2019 (2nd of 2 readings)
Total general fund expenditures in the FY 2019 budget are $179,725,535 and balanced to general fund revenues of the same amount. This represents a 4.7% increase from FY 2018. Council also approved a FY 2019 Capital Projects Fund budget of $23,401,942.
Council's major themes in this year's budget include:
- Strong Support for City Schools
- Preserving and Enhancing Quality Services
- Affordable Housing Investment
- Focus on organizational Efficiencies, aligning with our Strategic Plan and Council Priorities, and
- Maintaining the Real Estate tax rate at .95 cents per 100 dollars of assessed value.
Under the revenue sharing agreement of May 24, 1982, the sum of $15.7 million will be received to the General Fund from the County of Albemarle. Of that amount, $10 million supports the operational budget, $5.3 million shall be transferred to the Capital Projects Fund and $400,000 shall be transferred to the Facilities Repair Fund.
Complete budget materials are available online at www.charlottesville.org/budget under FY 2019 Proposed Budget.
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