HomeMy Public PortalAboutTOL PR 2013-04-11 tax rate and budget adoption
Town of Leesburg
News Release
For Immediate Release
Leesburg Town Council Sets 2013 Tax Rate and Adopts FY 2014
Budget and Six‐Year Capital Improvements Program
Leesburg, VA (April 11, 2013) – On Tuesday, April 9, 2013, the Leesburg Town Council adopted
the real estate tax rate for the 2013 tax year, the FY 2014 Budget, and the FY 2014‐2019 Capital
Improvements Program. In addition, the Council provisionally approved the FY 2015 Budget
and affirmed the long‐range financial plan through FY 2023.
“The Town Council is to be commended for its hard work during the last year to prepare the
way for the budget that passed last night” commented Leesburg Mayor Kristen Umstattd. “The
budget maintains the Council's commitment to keeping spending under control by lowering the
tax rate and by dedicating surplus funds to debt reduction. Town Manager John Wells and his
staff have worked closely with the Council over the last year to ensure that the Town continues
to build and maintain essential infrastructure and provide quality services at the lowest possible
cost to taxpayers. It continues to be to the Council's credit that they have set a standard for
getting the job done effectively through a level of cooperation that is hard to find at some
higher levels of government.”
The Council reduced the real estate tax rate to 19.2¢ per $100 of valuation, splitting the
difference between the current rate of 19.5¢ and the equalized rate of 18.9¢. The equalized
rate is the rate at which the Town would receive the same amount of revenue from existing
development as was received the previous year. Based on the new tax rate of 19.2¢, the
annual tax bill for the average single family home in Leesburg will increase about $12.
“The only major headline for the FY 2014 Budget is the funding for bus service,” said John
Wells, Leesburg’s Town Manager. “We’ve included an additional $234,000 for the bus service,
which is sufficient to continue the current level of service through June 30, 2014. However, we
are still working with Loudoun County and the state to determine how the bus service will be
managed past September 30th of this year.”
The local fixed route bus service in Loudoun County, including service in the Town of Leesburg,
is currently operated by Virginia Regional Transit. However, due to population density changes
within the County based on data from the 2010 Census, eastern Loudoun County, including all
of the Town of Leesburg, no longer qualifies for federal rural transit funding. The Virginia
Department of Rail and Public Transportation has funded a study to help Loudoun County and
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TOL PR 2013‐04‐11 tax rate and budget adoption
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the Town analyze the current bus service operations and future funding options. The study is
expected to be completed within six months.
The newly‐adopted FY 2014 Budget and the FY 2014‐2019 Capital Improvements Program will
be available for download from the Town’s website at www.leesburgva.gov/budget by the end
of April. In the meantime, questions about the budget can be sent to budget@leesburgva.gov.
Contact:
Norm Butts
Director of Finance
nbutts@leesburgva.gov
703‐771‐2720
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