The current FY 2012 budget is estimated at $3.2 million based on a tax rate of $0.080 per $100 of assessed property value.

 

Commercial properties within the BID increased overall by more than 15 percent in 2012, reflecting Rosslyn’s prime location for businesses to locate. The total real estate assessments for the Rosslyn BID now exceeds $4.5 billion.

 

Rosslyn’s commercial properties had an impressive increase in the assessment value this year. The Rosslyn BID, therefore, has recommended to the County that its tax rate be reduced from $0.080 to $0.078 per $100 of assessed value beginning in July 2013. If accepted by the County Board, the proposed new tax rate will be the same as the BID had back in 2007.

 

The BID budget is expected to increase, even with the tax reduction, from $3.2 million this year to $3.5 million in FY 2013. The BID Board has committed the new funding towards increased place-making and beautification projects for Rosslyn’s downtown.

BID activities for last year, this year and next are described in the Work Plan.

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Rosslyn BID FY 2012 Budget