The Loudoun County Board of Supervisors on Tuesday approved a tax rate of 96 cents after cutting $19 million from the school system's proposed spending plan. According to the Board of Supervisors, had the county kep the tax rate at 89 cents, $76 million would have been needed to be cut from the school budget.
The 2007 tax rate will be the highest for a county in Northern Virginia:
- Arlington: 81.5 cents (proposed)
- Fairfax: 89 cents (proposed)
- Prince William: 78.7 cents (proposed)
- Loudoun: 96 cents (approved)
The drop in the housing assessments due to the recent real estate market conditions almost cancels out the tax rate increase, but not quite. Home owners in Loudoun County will see their tax bill rise by an average of 1 percent over last year.
Out of curiosity, how does one need to cut $19 million from the school budget when the tax revenue from home owners will increase by 1 percent? Does anyone else feel like we're missing some important details that the county needs to share with us?
For statistics, resources and information about real estate in Loudoun County, feel free to visit Loudoun Stats.
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