PRESS RELEASE (February 25, 2020)
The Round Hill Town Council decided at its February 20, 2020 meeting to advertise the FY2021 Budget with a reduction in its real estate tax rate from the current 16.1 cents down to 10.0 cents. The new rate will be 35% lower than the 15.5 cent equalized rate. The advertised budget will go to Public Hearing on March 19, 2020 before the formal vote to adopt. Real estate tax levies will be reduced by $57,000, with an average savings per household of $240. Water/Sewer rates will be advertised with a 3% increase as recommended by the 2019 Water & Sewer Rate Study.
"The Town has been generating operating surpluses in its General Fund for many years due to increases in lease and tax revenue as well as sound management of costs," said Mayor Scott Ramsey. "Our reserves have become very healthy and we will still be able to fund our ongoing capital projects after the tax cut."
The Town also approved advertisement for a "Meals Tax and a Transient Occupancy Tax." Round Hill is the only town in Loudoun County that has not enacted Meals and Short-Term Rental Taxes. The rate for both will be 0% for the next fiscal year and the Town Council will discuss appropriate rates during next year's budget cycle (to be discussed in Winter 2021).
"We continue to be very interested in Town expansion, but our purpose of the expansion is not to increase tax revenue. We are tackling regional projects like Sleeter Lake Park, trail improvements, and managing a huge water/sewer system with a very small town population. We need a larger pool of candidates for our Council and appointed positions to keep it up. Our finances will also be more secure with a larger population to share any future risks that may emerge from such a broad responsibility," added Mayor Ramsey.