Nov 19
The Reston Association has approved a $46 assessment hike. The current annual rate is $437 and will rise in two years to $475 and then $483.
There was only one vote against the proposed rate increase. The tax hike is seen as necessary for RA to continue its operations and leave money in a bank for a rainy day fund. According to the newly approved budget $12.8 million will be raised in taxes for 2008, and $12.1 million will be spent. In 2009 they will bring in $13.1 million and spend $12.3 million.
The $1.5 million surplus will be used for the repair and replacement funds, which funds facilities upkeep. Two referendums are contained in the budget, including funding a new indoor facility which might contain tennis courts.
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