HomeMy Public PortalAboutTOL PR 2012-02-14 proposed FY 2013 budget
Town of Leesburg
News Release
For Immediate Release
Town Manager John Wells Presents Proposed FY 2013 Budget
to Leesburg Town Council
Leesburg, VA (February 14, 2012) – At the Leesburg Town Council work session on Monday,
February 13, 2012, Leesburg Town Manager John Wells presented his proposed budget for the
2013 fiscal year.
“The headline for next year’s proposed budget is that the Town remains on course for the long-
term fiscal plan that we laid out last year,” Wells commented. “We have made very minor
adjustments to the provisional FY 2013 budget that we presented to the Council as part of our
two-year budget for FY 2012-2013. There are no major surprises.”
The proposed FY 2013 Budget maintains the current real estate tax rate at 19.5¢ per $100 of
assessed value. The proposed tax rate reflects the “equalized rate,” which is the rate at which
the Town would receive the same amount of revenue as last year, not including new
construction. Since real estate assessments saw only modest increases over 2011, the average
homeowner in Leesburg will see an increase of 1-2% in their tax bills.
In addition to maintaining the same tax rate, Wells’ proposed FY 2013 Budget uses no carryover
funds from the previous year to balance the budget. As part of the Council’s adopted fiscal
policies, the Town began reducing the reliance on carryover funds in FY 2009. The FY 2008
Budget used $3.4 million in carryover funds and that amount was reduced each year until FY
2011, when no carryover funds at all were used to balance the budget.
A copy of the FY 2013 Proposed Budget is available for download from the Town’s website at
www.leesburgva.gov/budget.
Contact:
Norm Butts
Finance Director
nbutts@leesburgva.gov
703-771-2720
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