Leesburg Proposed Fiscal Year 2024 Budget presented to town council

The proposed Fiscal Year 2025 Budget and Six-Year Capital Improvements Program was presented to the Town Council Tuesday night. The proposed General Fund budget totals $81.6 million. The entire proposed budget, including the General Fund, the Capital Projects Fund, and the Utilities Fund, is $157.8 million.

The proposed budget does not recommend an increase in the real property tax rate but does recommend maintaining the current tax rate of 17.74 cents per $100 of assessed value. With the average increase of 5% in assessments for residential units and 7% for commercial properties, the equalized rate, or the rate at which the Town would receive the same amount as last year’s real property tax revenue from existing properties, is 16.95 cents. If the Council adopts the equalized rate, the proposed budget for the General Fund would have to be reduced by $908,000.

In a statement, Leesburg Town Manager Kaj Dentler said, “The proposed budget includes very few enhancements as the main intent is to control expenses in Fiscal Year 2025, while continuing the delivery of high-quality services to our residents and businesses. Although the Town continues to enjoy a strong financial position, we will need to evaluate the forthcoming budget years closely as the needs of our community, and the demand for services continue to grow along with increased regulatory requirements primarily in stormwater management.”

The key enhancements to the Proposed 2025 General Fund budget include:

• $30,000 as the Town’s contribution towards Leesburg Movement which is a Council approved initiative to join the Virginia Main Street Program.
• $88,500 towards the equipment, training, and part-time personnel for the implementation of school zone speed cameras by the Leesburg Police Department.

The proposed Six-Year Capital Improvements Program for Fiscal Years 2025-2030 totals $308.57 million and includes 75 projects. The proposed budget includes adjusted schedules for several capital projects to ensure the Town meets its fiscal policy of maintaining an Unassigned Fund Balance of at least 20% of General Fund expenditures each year of the six-year period. The proposed CIP also includes a request to hire a second Capital Projects Construction Manager to address workload demands and the growing complexity of the Capital Improvements Program.

The proposed Utilities Fund budget for Fiscal Year 2025 totals $45.7 million, including $9.6 million in capital projects. This proposed budget represents the first year of a new five-year rate plan adopted by the Council in January.

The proposed personal property tax rates remain unchanged from the current year.

The Town Council will hold three work sessions to review and discuss the proposed budget and Capital Improvements Program, as well as a public hearing to receive resident and taxpayer feedback. In addition, the Council will hold separate public hearings on the proposed Fiscal Year 2025 real estate and personal property tax rates.

The budget review and adoption schedule are as follows:

• Monday, Feb. 26, 7 p.m. Budget Work Session
• Tuesday, Feb. 27, 7 p.m. Personal Property Tax Rate Public Hearing and Adoption
• Monday, March 11, 7 p.m. Budget Work Session
• Tuesday, March 12, 7 p.m. Budget Public Hearing
• Monday, March 18, 7 p.m. Budget Work Session
• Tuesday, March 19, 7 p.m. Real Estate Tax Rate Public Hearing and Tax Rate and Budget Adoption
   

All work sessions and public hearings will be held in the Council Chambers at Town Hall (25
West Market Street). The public is welcome to attend the work sessions and public hearings,
which will also be broadcast on the Town’s local government access channel (Xfinity Channel 67
and FiOS Channel 35) and streamed live on the Town website (www.leesburgva.gov/webcasts).
Copies of the proposed budget document and presentation are available on the Town website
at www.leesburgva.gov/budget.