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WEDNESDAY, MARCH 30, 1988 <br /> <br />prepare for future demands and services (and the funding thereof), Mr. Brown <br /> <br />suggested the following additional sources of local revenue or combinations <br /> <br />thereof: <br /> <br />Residential and commercial refusecollection-disposal <br />service charge (and a Solid Waste Fund), estimated to produce <br />$480,000.00 per year. <br /> <br />Extension of the City's Consumers' Utility Tax (now only on <br />water, sewer and electric services) to telephone and natural <br />gas services, estimated to produce $429,600.00 on an annual <br />basis: <br /> <br />Real Estate Tax Rate increase of 12 (from and over the <br />present rate of 76 per $I00.00 assessed valuation, which <br />currently is the sixth lowest rate among Virginia cities) <br />which will yield $468,000.00 in additional revenue per year <br />(excluding increases in assessed~valuations); <br /> <br />Adjustment in personal property valuation method and/or in the <br />current rate of $2.25 (the latter to require a change in the <br />City's Charter); <br /> <br />Increase in motor vehicle decal (license tax) fees (from the <br />current $15.00 per passenger vehicle) -- to $18.00 yield <br />an additional $34,500.00 per year, or for every dollar <br />increase an additional $11,500.00 per year; and <br /> <br />To enable the Water and Sewer Funds to continue contributing <br />$250,000.00 each per year to the General Fund will require an <br />increase of 13% (0.10/1000 gals.) in water service rates and <br />16% (0.13/1000 gals.) in sewer service rates. <br /> <br />City Manager Brown then referred to specific "line item" expenditures he is <br />proposing, such as hand-held meter reading devices (to cost $25,000.00, noting <br />that the microprocessor required therefor is in place), additional ADP equipment <br />to be financed from both General Fund and Revenue Sharing Fund, an automated <br />information call-in service ($6,940.00), replacement of several building roofs, <br />replacement of various types of motorized equipment, street resurfacing program, <br />water system maintenance items and a new water storage tank, the cost of a sewer <br />line to serve the recently-constructed "shell" building (by the EDC) in the <br />City's Industrial Park, increased "O&M" costs in the operation of the City's <br /> <br /> <br />