Woodstock budget includes two capital projects

WOODSTOCK – Town Council is considering a $3.75 million increase in its proposed 2016-17 budget.

Town Manager Reid Wodicka said the increase in the $13,583,171 budget is related to two capital projects: the water treatment plant upgrade project, with an estimated $3.126 million price tag, and the downtown parking lot project, which will cost an estimated $500,000.

“The two projects are funded by the issuance of new debt. These projects are timed for the coming year because we have old debt retiring and we are assuming new debt to keep our debt obligation consistent over time,” Wodicka said. “We have old loans that we are paying for now, which will be retired by the time we issue new debt, so we are keeping our payment schedule essentially the same next year as it was this year.”

He added that the remaining $124,000 is related to a larger final debt service payment and the growth of costs associated with doing business.

The budget includes the funding of capital improvement projects that include:

•  The installation of two solar-powered street lights on Motel Drive with a cost of $14,930

• The final $25,000 payment of new financial software

• Police car replacement at a cost of $35,000

• Construction of a dog park for $30,000

• Sidewalk improvements along Main Street totaling $9,000

• Water main upgrades along South Water Street for $20,000

• The West Reservoir water treatment plant study for $35,000 to determine if it is a viable alternative future water source

• Public Works fleet replacement at $45,000.

The proposed budget includes increased water rates for in-town and out-of-town users.

In-town residents with a meter measuring less than an inch will pay $24.17 for the first 2,500 gallons used. Meters over an inch will pay $26.90 for the same amount used.

For the next 47,500 gallons used, residents with meters less than an inch will pay $8.46 per 1,000 gallons. Those with meters over an inch will pay $9.39 per 1,000 gallons.

For the next 50,000 gallons used, residents with meters less than an inch will pay $8.20 per 1,000 gallons used. Those with meters over an inch will pay $8.98 per 1,000 gallons used.

Those who use over 100,000 gallons will pay $7.81 per 1,000 gallons used with meters less than an inch. Those with meters over an inch will pay $8.52 per 1,000 gallons used.

The budget also includes a real property tax rate of 16 cents per $100 of assessed value. The personal property tax rate is 90 cents per $100 of assessed value. The real property tax rate represents a 1-cent increase in the nominal tax rate as a revenue-neutral adjustment to accommodate the average decrease in assessed value as a result of the county-wide general reassessment.

Copies of the proposed budget are available at the Woodstock Town Office at 135 N. Main St. or online at http://www.townofwoodstockva.gov/FY2017budget.

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