Radford City Council approved the FY 2008-2009 budget for its city schools, as well as setting the new real estate tax rate, at its monthly meeting Monday night.

Council approved the Radford City Schools budget of $33.6 million.

Council also set the FY 2008-2009 real estate tax rate at 64 cents per $100 of a property’s assessed value. The new rate is lower than the current rate, it represents on an average about 6 percent increase in taxes due to the recent reassessment. Property values increased on an average of 25 percent because of the recent reassessment.

Council also approved to allow Treasurer Janet Jones to waive late fees on utility bills during May. The treasurer’s office is shifting to new technology and it would be impossible to tell which bills are late.

The May 26 council meeting was cancel because it falls on Memorial Day.

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