Radford Council adopts $77 million fiscal 2025-26 budget, raises tax and fee rates

Radford City Council on Tuesday adopted its fiscal year 2025-26 budget and approved ordinances setting tax rates and fees that together aim to stabilize the city’s finances.

The council approved Ordinance 18-15, the fiscal 2025-26 budget, and separately adopted Ordinance 18-13 setting tax rates and Ordinance 18-14 setting fees and rates. The package raises the advertised real estate tax rate to $0.82 per $100 of assessed value, increases the personal property tax marginally to $2.55, boosts the prepared meals tax from 5.5% to 6.5%, raises hotel occupancy tax from 8% to 8.5%, and increases several utility and service fees including water/sewer and solid waste.

City staff presented the budget as a “living document” and said the package reflects a mix of new revenues, spending adjustments and one-time transfers to begin rebuilding reserves. The all-funds proposed budget for fiscal 2026 was presented at roughly $77.26 million before adjustments; after changes discussed during the review process staff reported a revised total in the same general range and projected roughly $1.0–1.2 million increase in general fund reserves from the changes described by staff.

Finance and budget details

Craig (staff member) told the council the budget reflects multiple changes…