Board to Adopt FY 2012 Budget Tuesday

After a long, public process the Prince William Board of County Supervisors will adopt the fiscal year 2012 budget on Tuesday.

A few changes have been made to the budget, which were announced in an April 13 budget recap by budget director Michelle Casciato. 

The new advertised tax rate is $1.210 instead of $1.213, 

Casciato said that the fiscal year 2012 – which begins July 1, 2011 – revenue projections have improved since the proposed budget came out in February. Residential real estate market values were estimated to rise five percent and now it has raised 5.24 percent. Commercial real estate market values were estimated to rise eight percent but now are expect to be 8.69 percent. 

Commercial and residential property values are starting to rise, which indicates signs of an improving economy.

h, six police office positions have been restored thanks to state funding. State revenue net increase is $651,290 and this will restore "Police 599 funds" that were previously cut by the state. 

In Board Chairman Corey Stewart's budget markup presented last week, Stewart proposed using additional 599 funds from the state to add three new police officer positions as well as using county funds to creat an additional seven police officer positions, for a total of 10 new officers.

Additionally, health insurance costs were projected to rise 10 percent in the proposed budget, but the increase is only four percent, saving about $1 million. 

To view the agenda for the budget adoption, click here.