- Unanimously approves $1.276 billion balanced budget
- No increase in real estate tax rate
- $500.8 million transfer to Schools includes more ongoing funding
- $1.6 million more for public safety pay raises than included in proposed budget
The Arlington County Board this week adopted a $1.276 billion balanced General Fund Budget for Fiscal Year 2019 that includes no increase in the real estate tax rate.
The Board voted 5 to 0 to adopt the budget and 5 to 0 to set the real estate tax rate at $1.006 per $100 of assessed value (including the stormwater tax). The Board’s action culminated months of reviews with the County Manager, departments, commissions and stakeholders. The Board also considered more than 1,000 comments from residents and other stakeholders.
Calling the budget “sustainably progressive,” County Board Chair Katie Cristol said that “with projected growth in community needs — schools, Metro, debt service — outpacing projected growth in assessed property values in coming years, the Board chose to slow the growth in expenditures and close a $20 million budget gap without raising the tax rate.
“Despite the reductions, there are investments our community can be proud of in this budget,” Cristol said. “We prioritized funding our public schools, especially teachers, and investing in our workforce, especially public safety personnel. We preserved our social safety net and sustained funding for affordable housing and core services.”
The Board largely accepted the $8.4 million in spending reductions, $6.6 million in fee and tax increases and $5.5 million in funding realignments recommended by the County Manager in his proposed budget.
“Over the next several years, we will face continued gaps between revenues and expenditures requiring more tough choices,” Cristol said. “As we begin deliberations on the Capital Improvement Plan, and next fall, as we start the Fiscal Year 2020 budget process, we will continue to work closely with our community to establish clear priorities.”
The 3.9 percent increase in residential property assessments in 2018 means that although the real estate tax rate will not rise, the average homeowner will see an increase in taxes and fees from $8,446 to $8,742, a $296 or 3.5 percent increase.
For more Information please visit: https://newsroom.arlingtonva.us/release/arlington-county-board-adopts-fy-2019-budget/