Resolution of Arlington County Civic Federation:|
Real Estate Tax Rate for Second Collection
Adopted March 7, 2006
Whereas the real estate tax collections during a County fiscal year (July 1 to June 30) are based on assessments made for two different calendar years, and
Whereas the second real estate tax payment during the fiscal year (the June payment) is based upon an assessment value not known until January, halfway into the fiscal year, and
Whereas current procedures result in real estate revenues from the second payment being highly uncertain, which has resulted in unexpected surplus funds, or may result in revenue shortfalls in the last part of the fiscal year, therefore
Be it resolved, to simplify the budgeting process and provide greater transparency and accountability, the second real estate property tax (June) payment should generate no more revenue than required in the original adopted budget for that fiscal year.
This page was last revised on: March 12, 2006.