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Radford proposes 79'2 tax rate, utility and fee increases to balance $77.3 million budget
Summary
City staff presented a balanced but smaller 2025-26 budget that relies on a proposed real-estate tax rate increase (proposed 79'2; advertised 82'2 as an upper option), higher water/sewer and solid-waste fees and cuts to capital and outside agencies to close a revenue shortfall.
City finance staff presented Radford City Council with a balanced fiscal 2025-26 all-funds budget totaling $77,262,257 and a general fund of $33,122,947, noting the plan reduces projected revenues and trims expenses after recent revenue shortfalls.
Craig (city finance staff) said the all-funds budget is a decrease from the prior year and that the administration re-sized both revenue projections and expenses to reach balance. He said the proposed city real-estate tax rate in the administration's proposed budget is $0.79 per $100 of assessed value; council advertised the budget using $0.82 per $100 as an upper option to give flexibility before final adoption.
Council and staff walked through household impacts used in the presentation. Craig showed that for a $250,000 home a $0.79 rate would raise property taxes…
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