Board of County Supervisors Advertises Lower Tax Rate

The Prince William Board of County Supervisors voted unanimously Tuesday to advertise a real estate tax rate of $1.213 per $100 of assessed value for fiscal year 2012.

The tax rate is down 2.3 cents from the 2011 rate, but the by $93 per year if the rate is approved. The current rate of $1.236 per $100 of assessed value yields an average tax bill of $3,110, but with property values on the rise, the average tax bill is projected to go up to $3,204 at the advertised rate.

The average tax bill under the proposed rate would still be 2 percent lower than in 2007, before the recession, and 7 percent lower than its peak in 2009.

Additional revenue generated by the higher tax bills will go to fund schools, including three new schools scheduled to open in fall of 2011, and to complete the board’s 2006 road and library bonds. The county government projects all road bond projects to be completed by 2015 and the Montclair and Gainesville libraries to open in 2016.

The tax rate advertisement comes early enough to comply with state law requiring local governments to publish the rate change at least 30 days prior to public hearings being held. The public hearings are scheduled for April 4 and 6, leading up to adoption on April 26.