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City presents quarterly financial report as council and staff weigh using $22 million surplus cautiously
Summary
Charlottesville officials presented the city’s second quarterly financial report through Dec. 31 and urged a conservative approach to using last year’s $22 million surplus.
Charlottesville officials presented the city’s second quarterly financial report through Dec. 31 and urged a conservative approach to using last year’s $22 million surplus.
Chrissy Hamill (title not specified in transcript) reported that as of Dec. 31 the city had collected about 45–46% of its fiscal‑year revenue and that assessments rose: residential values increased about 8% and commercial values about 6.48%, producing an overall assessment increase of about 7.74%. Hamill said the revenue picture “looks very different” than in recent years and…
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