Subject:
Title
Public Hearing for FY 2016-17 Proposed Real Estate Tax Rate
Body
EXPLANATION AND SUMMARY:
Each year, the following year's real estate tax rate is recommended by the Town Manager and reviewed during work sessions by the Mayor and Town Council. This public hearing is requested to afford Vienna residents an opportunity for public comment.
This is a public hearing on the proposed real estate tax rate of $0.2250 per $100 of assessed value for FY 2016-17. The proposed budget is based on this rate along with continuation of the current bank net capital rate of $0.80 per $100 of valuation and the residential utility tax rate of 20% of the first $15 and the commercial utility tax rate of 15% of the first $300.
Town Council has reviewed the budget during work sessions on March 14 and 19. Town Council further reviewed the proposed budget on April 11. This public hearing was originally set for April 18, but was deferred to May 9.
The real estate tax rate published for all publication purposes has been $0.2250 per $100 value.
Accordingly, Town Council has the option to adopt the real estate tax rate at $.2250/$100 value or lower as it sees fit.
Departmental Recommendation: Recommend a public hearing.
Finance Recommendation: Recommend a public hearing.
Purchasing Recommendation: N/A
Town Attorney Recommendation: Per state and Town code, the Town Attorney recommends that Town Council conduct a public hearing on the proposed real estate tax rate.
Town Manager's Recommendation: I recommend the Town Council approve of the Fiscal Year 2016-2017 proposed real estate tax rate as presented.
Cost and Financing: N/A
Account Number: N/A
Decision Needed by This Date: June 15, 2016
PROPOSED/SUGGESTED MOTION
Recommended Action
"I move to close the public hearing."
"I further move for (approval/disapproval) of the Fiscal Year 2016-17 proposed real estate tax rate as presented and that the Town Clerk be directed...
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