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Town_Budget
Town Budget
The Town of Herndon's fiscal year begins July 1 and ends June 30. Click here to review the FY 2010 adopted budget.
Town Council Adopts FY 2010 Budget
Real Estate Tax Rate Increase to $.26 per $100 of Assessed Value to Result in Lower Tax Bill for Most Citizens
At its public hearing on Tuesday, May 26, the Herndon Town Council adopted the budget for the town's 2010 fiscal year, which begins July 1, 2009 and ends June 30, 2010.
Highlights of the $41,128,785 budget, a 6.3 percent decrease from the current (adopted) FY 2009 budget, include an increase in the real estate tax rate from $.24 to $.26 per $100 of assessed value. However, due to a 27 percent reduction in assessed residential real estate values, approximately 91 percent of homeowners will pay less in real estate taxes to the town in FY 2010, with an average decrease of $200 per household.
The adopted FY 2010 budget maintains current rates for the meals and transient occupancy taxes, at 1.5 percent and six percent, respectively. The budget also maintains the current rate for the town's cigarette tax, at $.50 per pack.
The adopted FY 2010 General Fund Capital Improvement Program (CIP) focuses on infrastructure improvements related to neighborhoods and transportation. The CIP includes expenditures of $1.9 million for the General Fund ($1.1 million of which is provided through grants and developer proffers) and $635,000 for Enterprise Fund operations.
To balance the FY 2010 budget as required by Virginia law and in the face of significantly reduced real estate tax revenues, the town will implement spending reductions to include 11 positions identified as vacant in FY 2009 that will not be filled in FY 2010; no market rate adjustment or pay-for-performance increases for employees; revision of on-call and overtime scheduling to reduce costs; increased health insurance premiums for employees; and reduction or elimination of some employee benefits. Operations and Maintenance expenditure changes include reduction of general operating expenditures; reduction of operating hours at the Herndon Community Center and Neighborhood Resource Center; reduction of some promotional and special event expenditures; and scaling back on some services such as refuse pickup on holidays. Replacement of vehicles and equipment is also being deferred, and grant funding allocation has been reduced by 12 percent from FY 2009.
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