Alexandria City Council Approves New Operating Budget of 926.4M
The FY25 budget focuses on areas such as education, city services, and affordable housing
ALEXANDRIA, VA-Tonight (May 1) Alexandria City Council unanimously adopted the Fiscal Year 2025 General Fund Operating Budget of $926.4 million. The amount is a 4.8 percent increase over the last budget.
“As Council balances a budget with scarce resources and practically unlimited demands, resident input is essential,” Mayor Justin Wilson said. “We had a comprehensive process to reach tonight’s adoption. The result is a budget that aligns with our community’s values with an eye to the demands of the future.”
The budget focuses on the following areas: quality education, improved city services, public safety and mental health services, and affordable housing.
What To Know
- There is a two and a half cent increase in the real estate tax rate. This increase means the average single-family homeowner will pay $483 and the average condominium owner will pay $285 more this year than last.
- A one-time addition of $3 million for approved, unfunded projects in the affordable housing pipeline has been included to further the city’s commitment to affordable housing.
- There is a $14.3 million increase in the ACPS Operating Budget The amount will support teacher compensation.
The budget also contains capital investments for stormwater management infrastructure, educational facilities, and maintenance of existing City of Alexandria assets and facilities.
The new budget takes effect July 1.
