Recently, cities and counties all over Northern Virginia scrambled to approve budgets that reduced the real estate tax burden on residents but yet gave the jurisdictions enough money to run operations. Some counties were successful, some, not so successful.
Both Loudoun County and Fairfax County have some areas where homes prices have been fairly stable. These residents have received bills that show a tax increase, some as much as $1000 increase per year. About 150,000 households in Fairfax will owe more taxes than they did last year. Western Loudoun and areas like Fairfax Station have been hit with the increased rates but their houses haven’t lost that much in value. Higher rates and stable house values spell higher taxes for residents in both of those counties.
–But not Prince William County. According to the Washington Post, every residence in Prince William County will show a lower tax bill:
Unlike in the other jurisdictions, every Prince William County homeowner will see a lower tax bill. The average tax savings will be $435. But it came at a price.
The Prince William school system will receive $26 million less from the county this year despite the expected influx of about 1,420 new students in the fall. Officials said they expect federal stimulus funds to make up the difference. The county also is slashing 140 positions, reducing some library hours and eliminating its Office on Youth.
Chairman Corey Stewart responded with the following:
“We’ve slashed the budget. We’ve cut our costs. We’ve made our government more efficient. And by doing so, we are able to reward our constituents with a sizable tax cut,” said Corey A. Stewart (R), chairman of the Prince William Board of County Supervisors.
