HomeMy Public PortalAboutTOL PR 2014-04-09 tax rate and budget adoption
Town of Leesburg
News Release
For Immediate Release
Leesburg Town Council Reduces Real Estate Tax Rate to 18.3¢,
Adopts FY 2015 Budget and Capital Improvement Program
Leesburg, VA (April 9, 2014) – On Tuesday, April 8, 2014, the Leesburg Town Council adopted
the real estate tax rate for the 2015 tax year, the FY 2015 Budget, and the revised FY 2014-2019
Capital Improvement Program.
The Council reduced the real estate tax rate to 18.3¢ per $100 of assessed value, from the 2013
rate of 19.2¢. The new tax rate is the equalized rate, or 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 18.3¢, the annual tax bill for the average single family home
in Leesburg will be unchanged.
The adopted FY 2015 Budget contains no new full-time positions or new programs. The only
major change to the Capital Improvement Program was the addition of the Brown’s
Meadow/Woodberry storm drainage improvements, which will alleviate overland runoff and
flooding of yards in the vicinity of Wildman, Brown’s Meadow, Woodberry and North Streets.
This project was previously included in the list of potential future projects. The total cost of the
project is $250,000 and is estimated to be completed in Summer 2015.
“The budget for FY 2015 is the second half of the two-year budget we adopted last year,”
explained Leesburg Mayor Kristen Umstattd. “The fact that the adopted budget has so few
changes from the provisional budget presented one year ago is a testament to the clear
direction that Council has set with regard to long-term budget sustainability and tax
affordability, and to the leadership at the staff level to implement the Council’s direction.”
The newly-adopted FY 2015 Budget and the revised 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.
Contact:
Norm Butts
Director of Finance
nbutts@leesburgva.gov
703-771-2720
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