Alexandria City Council to Set Potential Maximum for 2024 Real Estate Tax Rate

Page updated on March 19, 2024 at 5:10 PM
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On Tuesday, March 12, Alexandria City Council voted unanimously to consider a 2024 calendar year real estate tax rate of up to $1.15 per $100 of assessed value. The real estate tax rate that City Council eventually adopts could be either lower than or equal to the advertised rate of $1.15; however, it cannot be higher than the maximum tax rate that is advertised. No increase will be considered for the tax rates on personal property (vehicles) or business-tangible property.

On Tuesday, February 27, City Manager James Parajon proposed a Fiscal Year (FY) 2025 Operating Budget that funds City government and Alexandria City Public Schools operating budget at the current tax rate of $1.11, with no proposed tax rate increase. By advertising the $1.15 rate, City Council created flexibility in the tax rate setting decision.

Pending City Council Decision

If the City Council adopts the real estate tax rate in the proposed budget of $1.11 for calendar year 2024 then the average residential tax bill would increase $210, or 2.8%, when compared to calendar year 2023 residential tax bills. The proposed budget did not include a real estate tax rate change, so this increase occurs primarily due to increases in residential real property assessed values. If City Council adopts the maximum real estate tax rate of $1.15 for calendar year 2024, then the average residential tax bill would increase $490, or 6.5%.

City Council will adopt final rates in conjunction with adoption of the FY 2025 budget on Wednesday, May 1.

Opportunities to Engage in Budget Process

Before the FY 2025 Budget is adopted on Wednesday, May 1, Alexandrians can still engage in the events below. All events will be held in person and remotely.

Public Hearings

To provide feedback about the budget, attend one of the public hearings below:

FY2025 Budget Public Comment Form

We also invite you to share your thoughts on the budget by using the City's online Budget Input Form. Your comments will be periodically compiled, categorized and reviewed by the City Manager and City Council, and will also be made available on the City's website for public viewing.

Listening Sessions

To hear and learn more about the budget, attend one of the work sessions below:

For more information about Alexandria’s Budget process and events, please visit alexandriava.gov/Budget.

For reasonable disability accommodation, contact Anna.McClure@alexandriava.gov.

If you prefer communication in another language, free interpretation and translation services are available to you, please email LanguageAccess@alexandriava.gov or call 703.746.3960.