
                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: THURSDAY, June 8, 1995                   TAG: 9506080057
SECTION: CURRENT                    PAGE: NRV-2   EDITION: NEW RIVER VALLEY 
SOURCE: KENNETH SINGLETARY STAFF WRITER
DATELINE: CHRISTIANSBURG                                LENGTH: Medium

CHRISTIANSBURG BUDGET GROWS, BUT NO TAX INCREASE|

Capital improvements - for the town's new recreation center, the rescue squad building and for water and sewer service - make Christiansburg's proposed budget for the next fiscal year bigger than it has ever been, but residents will not see a tax increase.

Instead, leftover money from the current budget and a bond issue will pay for those capital projects in the $13.3 million budget for fiscal year 1995-1996, up from $10.1 million.

The budget, which governs the year beginning July 1, was the subject of a public hearing Tuesday. No one spoke. Town Council will adopt the budget June 20.

Town Manager John Lemley said he expects the town to issue bonds of up to $2.5 million later this year to pay for renovations to the new recreation center. The center is planned for the former Lowe's building on North Franklin Street. The town paid $1.4 million for the building last month.

Also in the budget is $900,000 for a new rescue squad building and more than $1 million for sewer and water service to the Falling Branch Industrial Park, which the town will incorporate into its borders under an agreement with Montgomery County.

Montgomery officials had expected utility service to the park to cost as much as $4 million. But Lemley said the town can do the job much cheaper because Christiansburg, unlike the county, already has the employees and equipment to do so.

The town's real estate tax rate will remain at 14.4 cents per $100 valuation, but residents may see their bills go up because of last year's real estate assessment, which saw an average countywide increase of 5 percent. Christiansburg's personal property tax will stay at 45 cents.

Anticipated required upgrades to the sewer plant may result in a substantial bond issue within the next 2-3 years and a concurrent tax increase, the budget shows.

The town's current bonded indebtedness is $4 million, with $400,000 scheduled to be retired during the next budgetary year.

The budget also shows that revenue from property, meals and business-license taxes continue to rise, with all generating slightly more money during fiscal year 1994-1995 than expected. In the upcoming budget year, the town expects to receive $1.25 million in property taxes and $1.5 million in meals taxes. Business-license tax revenue, a reflection of retail and other business activity in the town, is anticipated to increase to $432,000.

by CNB