Preliminary Tax Levy Set at 5.98%

PRELIMINARY TAX LEVY SET

At the September 18th meeting, the Arlington City Council approved a 5.98% preliminary tax levy increase for 2018. The Council, in partnership with its committees, departments and staff, will continue to review and revise the proposed budget in anticipation of reductions to the levy amount by December, when the Council adopts the final levy for 2018. As always, once the preliminary tax levy has been set, it cannot be increased, only decreased. The preliminary tax levy as proposed:

General Fund $587,634
Fire Pumper Loan $35,000
Comm. Ctr. Building Bond $61,000
2009 G.O. RF Bonds (Street & Utility) $47,000
2012 G.O. Bonds (Street & Utility) $5,000
2015 G.O. Bonds (Street & Utility) $70,000
2017 G.O. Bonds (Street & Utility) $51,800
Other Levies (Tax Abatement) $2,500
TOTAL PRELIMINARY TAX LEVY:  $859,934

The proposed increase in the General fund levy reflects an increase in services and fees in a few departments, additional transfers, and anticipated health insurance premium and wage increases. The debt service portion of the preliminary levy reflects amounts sufficient to meet debt repayment requirements. The City Council will hold a Truth-in-Taxation hearing on Monday, December 4th to provide an overview of the proposed 2018 budget and take public comment prior to approving the final budget and tax levy.

 

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