AUDIO: Albemarle Supervisors discuss capital budget
By Brian Wheeler
Monday, March 12, 2012
The Albemarle Board of Supervisors met Monday to continue its review of County Executive Thomas C. Foley’s $311.7 million budget for FY 2013. Topics included portions of the operating budget as well as the Capital Improvement Program.
Foley started the meeting with a reminder about the real estate property tax rate, a looming financial and political decision facing the board.
Foley said the budget schedule anticipates the board setting a tax rate for advertisement on Wednesday.
“There was a question that had come up about the tax rate being set,” Foley said. “It does require an affirmative vote to set the tax rate. There is no tax rate that you fall back to.”
In other words, the board cannot be deadlocked in a 3-3 vote on the tax rate and have the status quo maintained. Once advertised, the rate can only be reduced and not increased. The public hearing on the budget is scheduled for March 28. A final tax rate must be adopted by April 15.
Foley’s budget anticipates raising the tax rate from $0.742 to $0.764 per $100 of assessed property values. Foley also recommends one half cent of that increase to be dedicated to capital needs to fund the Crozet Library, a new police firing range, and a new fire station in Ivy.
The five-year CIP totals $79.8 million with the two largest portions supporting the school division (44.3 percent) and public safety (28.8 %).
No decisions were made at this informational work session.
Listen using player above or download the podcast: Download 20120312-BOS-CIP
NOTE: This podcast only includes introduction and CIP discussion.