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Radford City Council approves budget, raises real-estate tax 2 cents and sets water at $3 per 1,000 gallons
Summary
After debate on reserves, transfers and infrastructure needs, the Radford City Council voted to raise the real-estate tax by 2 cents to an 84¢ rate, approved a $3-per-1,000-gallon water fee and adopted the fiscal-year budget.
Mayor Maya Horton and councilors voted Monday to adopt Radford City’s fiscal-year budget after a discussion focused on building reserves, reducing transfers from enterprise funds and addressing long-term infrastructure needs.
The council approved a 2-cent increase in the real-estate tax (raising the rate to 84¢) on a roll-call vote and set the water rate at $3 per 1,000 gallons. Council then adopted the budget as presented that evening.
Why it mattered: City leaders said the increases were meant to reduce dependence on transfers from enterprise funds (notably a roughly $4,000,000 transfer from the electric fund), restore reserve balances and fund capital work on water and other infrastructure. Todd, a city staff member, told the council that earlier proposals…
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