Public hearings set regarding the proposed increases
RADFORD – The Radford City Council has scheduled public hearings for April 16 and April 22 regarding proposed increases to property taxes, electric rates and wastewater (sewer) rates for the upcoming year.
A public hearing is scheduled for 5:30 p.m. Tuesday, April 16, 2024 on the proposed tax rates for calendar year 2024.
“Interested parties are invited to attend the public hearing and present their views,” according to the announcement on www.radfordva.gov. The hearing will be held in the council chambers, located at 10 Robertson St., Radford.
“Notice is given that the Council’s intention to increase in the following tax levies for calendar year 2024: Real Property tax levy at $0.69 per one $100.00 of assessed value.”
Machinery and tools tax levy will remain at $1.76 per $100.00 of assessed value.
Tangible personal property will remain at $2.44 per $100.00 of assessed value.
A second public hearing will be held following the close of the first hearing at 5:30 p.m. on the advertised fiscal year 2024-2025 budget in the amount of $79,043,310.
The following is a synopsis of the 2024-2025 budget:
General fund: $35,411,361
Streets maintenance fund: $2,829,359
Transit: $2,860,488
Water/wastewater fund: $6,320,498
Electric fund: $28,854,443
Solid waste fund: $1,688,841
The City Council will also hear comments on the Radford City School Board budget in the amount of $46,803,799. The summary is as follows:
Operating fund: $38,098,270
School nutrition fund: $1,033,057
Grants fund: $2,694,745
Textbooks fund: $852,102
Capital projects fund: $220,000
Health insurance fund: $2,858,251
Region 7 virtual academy fund: $862,896
A copy of the document is available for review in the city manager’s office, the Radford Public Library, and on the City’s website at www.radfordva.gov.
Another public hearing will be held Monday, April 22 at 7 p.m. regarding utility rates. The hearing will be held in the council chambers located at 10 Robertson St. It is the council’s intention to propose an increase in the following water, wastewater and electric rates and fees for fiscal year 2025:
Wastewater rates are proposed to increase from $14.24 to $16.24 for 2,000 gallons.
The water connection fee is proposed to increase from $1,300 to $2,000.
Electric base rates (energy + customer charge) are proposed to increase from $104.65 to $107.97 for 1,000 kwh customer.
Residential:
Basic customer charge: (per month): $7.02
Energy charge all metered kWH): $0.10095
Rate Tariffs for all customer classes are available for review on the City’s website at www.radfordva.gov.
Staff report
