ROANOKE, Va. – Roanoke City Council voted on Monday to unanimously approve City Manager Bob Cowell’s proposed budget for fiscal year 2024.
The budget is $335 million, about a $30 million increase from fiscal year 2023.
This year is historic because of the significant funding, with about $100 million going to Roanoke City Schools, which officials say is a 10% increase in funding compared to last year.
“I think we struck as good of a balance that we can. The emphasis on education, public safety, and compensation really carried through and was supported along the way so that’s definitely the best balance we could stroke,” said Cowell.
Community safety funding will see a $10 million increase, which will increase public safety officers’ wages as well as pay for the replacement of some police, fire, and EMS vehicles.
Funding is also set aside for Parks and Recreation improvements in the city, like Washington Park Pool and Skate Park.
“It’s fair, it’s balanced. I do appreciate the additional $180,000 that will be going to parks and recreation,” said City Councilman Luke Priddy.
Although the significant increase in funds, there will not be any tax hikes.
The real estate tax rate for the city is set to maintain for property owners, but that doesn’t mean property tax bills won’t go up.
“We are required to notify folks that their tax bill will likely increase on real estate because of the assessed value. The wording that is required in there indicates that there is an increase, there is an increase in revenue, but the rates stay the same,” Cowell explained.
The budget will go into effect on July 1, 2023.