February 23, 2006
After months of work, Charlottesville City unveiled its budget proposal for the fiscal year 2007.
The budget is an 8 percent increase from last year, amounting to $9.4 million. The rising cost of fuel and salary increases are the largest contributor to the spike in costs. One part of the budget that is new from last year is a Homeowners Tax Relief Program.
"It would be like a grant. The idea is to help offset the assessment increase that a lot of homeowners are having in Charlottesville," said City Manager Gary O'Connell.
Any City resident earning $50,000 or less and who owns a home worth under $238,000 would qualify. The budget will be presented to City Council on Monday night.