HomeMy Public PortalAboutTOL PR 2017-04-05 tax rate and budget adoption
Town of Leesburg
News Release
For Immediate Release
April 5, 2017
Media Contact:
Betsy Arnett, Public Information Officer
barnett@leesburgva.gov 703-771-2734
Leesburg Town Council Adopts Fiscal Year 2018 Budget, Sets
Real Estate Tax Rate at 18.4¢
Leesburg, VA (April 5, 2017) – At a special meeting on Tuesday, April 4, 2017, the Leesburg Town
Council adopted the real estate property tax rate and approved the budget for the 2018 fiscal
year. The Council approved a real estate property tax rate of 18.4¢ per $100 of assessed value,
down from the current 18.6¢.
The equalized tax rate for residential properties is 18.23¢. The equalized rate is the rate at which
the Town will receive the same amount of real estate revenue as the previous year, based on
current residential real estate assessments. On average, residential real estate assessments in
Leesburg increased modestly in 2017. Based on the new tax rate, the average single family home
owner will see an increase of less than $1.00 in their annual Town tax bill. Townhome tax bills
will increase an average of $14.78 and condominium tax bills will increase an average of $15.57.
The adopted Fiscal Year 2018 General Fund Budget totals $57.1 million, a 4.2% increase from the
Fiscal Year 2017 Budget. Most of the increase is attributable to five new full-time positions. The
Public Works Division will add a three-person maintenance crew, the first staffing increase since
2000. The other two new positions are a parks maintenance worker and a new zoning inspector.
As part of the budget adoption, the Council also adopted the Fiscal Year 2018-2023 Capital
Improvements Program (CIP). The CIP includes 37 projects, totaling $119.5 million over the six
years of the program. During budget deliberations, the Town Council removed the interactive
water feature on Loudoun Street and added an interchange jus tification report for the
intersection at Battlefield Parkway and the Route 15 Bypass.
The newly-adopted Fiscal Year 2018 Budget and the Fiscal Year 2018-2023 Capital Improvements
Program will be available for download from the Town’s website at www.leesburgva.gov/budget
within the next month.
# # #