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Radford City Council adopts FY 2027 budget, raises real estate tax to 84¢ per $100
Summary
Radford City Council approved the FY 2027 budget and related rate ordinances, adopting a roughly $80.1 million spending plan, a 2¢ real estate tax increase (to 84¢ per $100 assessed value), a $3/1,000-gallon water increase and a 5% electric rate adjustment.
Radford City Council on second reading adopted the city’s fiscal year 2027 budget and a package of rate and fee changes, voting to raise the real estate tax levy from 82¢ to 84¢ per $100 of assessed value and approving increases to water and electric charges.
Todd, the staff presenter, told the council the budget was built around four public values: “effectiveness, efficiency, financial sustainability, and maintaining independent city status.” He said the plan is balanced on locally generated revenues and is presented without new debt; at the second reading he and the mayor cited a finalized figure of $80,135,046 (the presentation also referenced the budget in some places as about $80.1 million). Todd flagged key drivers of the plan, including a projected roughly $1.3 million loss in electric revenue after Radford…
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