Starting July 1 of this year, residents of Fredericksburg will see an increase of their real estate taxes along with their water and sewer bills.
On Tuesday, City Council unanimously voted to increase the tax rate from 77 cents to 80 cents per $100 of assessed value of real estate for fiscal year 2018. They also unanimously approved a 2% increase in the water rate and 4% sewer rate increase.
This tax raise is predicated to bring in about $1,185,000 in additional revenue which $790,00 of the increase will go towards the general fund for use by the city & city school system. The remaining $395,000 will go towards the city’s stormwater-management programs.
For more information please visit: Fredericksburg.com