Roanoke City Council holds property tax rate constant for another year
Roanoke’s property tax rate will be $ 0.37512 per $ 100 of assessed value for fiscal year 2021-2022. (Archive photo from Community Impact Journal)
For a 25th year in a row, Roanoke property owners will be consistent with their tax bill as city council voted on September 7 to re-adopt a property tax rate of $ 0.37512 per $ 100 of assessed value for the 2021-2022 fiscal year.
The board also approved its annual operating budget at the special meeting called.
“We have one of the lowest tax rates in the area and, for the amount of amenities we are able to provide and keep the same low tax rate, we have found it to be a pretty positive thing for our citizens to continue this, ”Roanoke Mayor Carl“ Scooter ”Geirisch said after the meeting adjourned.
The approved rate includes a maintenance and operation rate of $ 0.194431 per $ 100 of assessed value and a debt service rate of $ 0.180689, according to the City’s budget proposal document.
The approved budget provides for general fund income of $ 23.24 million, an increase of 6.85% over the initial budget for fiscal year 2020-2021. General fund operating expenses are proposed at $ 23.03 million, an increase of 6.1% from the previous year, according to city documents.
According to budget documents, the increase in operating expenses can be attributed to increased compensation for city employees and health care benefits “as well as increased costs for maintenance, supplies, utilities and rebate agreements “.