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County Administrator Proposes 10% Tax Hike! |
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Saturday, 13 February 2010 10:34 |
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Loudoun County Administrator Tim Hemstreet presented his FY 2011 budget proposal to the Board of Supervisors on Monday, February 8 that calls for a tax rate of $1.40, which will mean a 10%, or $505, tax increase for the average Loudoun homeowner. The county will rake in an additional $51 million in real property tax revenue with the tax hike.
With residential assessments falling by 2.9% in 2010, the equalized tax rate would be about $1.28. This marks the fourth straight year of decline, yet the county continues to raise the tax rate to keep taxes as inflated as home values were in 2006.
Loudoun Real Property Tax Rate History
| 2006 |
$0.890 |
| 2007 |
$0.910 |
| 2008 |
$1.140 |
| 2009 |
$1.245 |
| 2010 |
$1.400 |
The budget calls for $1.5 billion in total appropriations - a $96 million increase over FY 2010. The following table highlights the major appropriations.
FY 2010 vs. FY 2011 Major Appropriations
| Category |
FY 2010 Adopted |
FY 2011 Proposed |
Variance |
| School Operating Fund |
$738,998,960 |
$772,889,662 |
$33,890,702 |
| County General Operating Fund |
$347,469,536 |
$358,178,178 |
$10,708,642 |
| School Debt Service |
$111,485,143 |
$120.648,084 |
$33,890,702 |
| County Debt Service |
$38,418,509 |
$39,365,889 |
$947,380 |
| Capital Appropriations |
$101,175,229 |
$142,856,743 |
$41,681,514 |
The following table lists the proposed county budget changes by department for the 5% increase in local tax funding option.
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