New budget brings tax increases for Alexandria homeowners
ALEXANDRIA, Va. - Residents in Alexandria are bracing for an increase in real estate taxes following the City Council's unanimous vote on a new budget.
The 2025 fiscal year budget, approved by council members, marks the first hike in real estate taxes after several years without an increase.
Under the new budget, homeowners in Alexandria will see a significant uptick in their tax bills.
Single-family homeowners can anticipate paying an estimated $480 more on average, while condo owners may face an increase of around $285. This uptick represents a 2.5-cent rise in the city's real estate tax rate.
ALEXANDRIA, VA - FEBRUARY 25: A street sign is seen in the Potomac Greens neighborhood on Monday February 25, 2019 in Alexandria, VA. (Photo by Matt McClain/The Washington Post via Getty Images)
Alexandria's approved operating budget stands at just under a billion dollars, totaling around $911 million.
Like many municipal budgets, a substantial portion, two-thirds to be precise, is allocated towards education, public safety, and infrastructure. Specifically, nearly $270 million is earmarked for city public schools.
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Residents FOX 5 spoke to on Thursday, expressed surprise and concern about the tax increase, stating they were not expecting such a significant financial burden.
Alexandria Mayor Justin Wilson addressed the tax increase, acknowledging its less-than-ideal timing but emphasizing its necessity.
Alexandria Mayor Justin Wilson addressed the tax increase, acknowledging its less-than-ideal timing but emphasizing its necessity.
"A big part of this increase is to address enrollment issues, and educator pay and make sure we continue to lead the region in educator pay," Mayor Wilson said. "One of the other things we invested in, in this budget is expanding our elderly and disabled tax relief. We recognize that a rate increase has a significant impact on seniors … So we expanded the relief we provide for our most vulnerable homeowners."
The budget also includes capital investments, including plans to construct two new elementary schools and undertake renovations to existing facilities. Homeowners should anticipate the tax increase to reflect in their upcoming bills, which are slated to be distributed in the next couple of weeks.
For more information on the proposed operating budget click here.